Tesla owner Elon Musk to replace Parag Aggarwal as Twitter’s next CEO

Tesla CEO Elon Musk announced in a filing Monday that he will lead Twitter, the social media company he recently acquired for $44 billion.

Twitter’s former CEO Parag Agrawal and other senior corporate executives were fired last week by Elon Musk, who owns rocket company SpaceX, brain-chip startup Neuralink, and tunnel company Boring Company.

Tesla’s stock has lost a third of its value since Musk’s offer to buy Twitter in April, compared to a 12% drop in the benchmark S&P 500 index over the same period.

Musk previously changed his Twitter bio to “Chief Tweet” when referring to his intended actions.

Also Read: https://www.dnaindia.com/world/report-elon-musk-denies-allegations-of-firing-twitter-employees-to-avoid-payouts-2997430

On Monday, Twitter declined to comment on whether Musk would appoint a replacement or how long he would serve as CEO. Musk announced in a separate document he prepared Monday that he is now the sole director of Twitter as a result of the acquisition.

“The following individuals who were on Twitter’s board of directors prior to the effective date of the merger are no longer on Twitter’s board of directors: Brett Taylor, Parag Agrawal, Omid Cordestani, David Rosenblatt, Martha Lane Fox, Patrick Pichet, Egon Durban, Fei-Fei Li and Mimi Alemayehou,” Musk said in his application.

Musk quickly tweeted that the decision to eliminate the board was “only temporary,” without giving details.

Also Read: https://www.dnaindia.com/world/video-britain-s-prime-minister-rishi-sunak-reveals-his-morning-routine-diet-and-fitness-regime-2997656

A long story ended last week with Musk’s $44 billion acquisition of the social networking company. Since the acquisition, Musk has been quick to push his personality on his Twitter, but the slow implementation of product changes and spam removal of his account has long been mocked by Musk. .

His team set up meetings with some employees to examine Twitter’s software code and learn how various components of the site work, according to two people familiar with the situation.

Some employees who spoke to Reuters claimed that they had minimal contact with Musk and other executives and learned about the business through news articles.

(including information from Reuters)