Firing Twitter’s Top Executives Will Cost Hefty Amount To Elon Musk

October 28, 2022 By Raulf Hernes

(Image Credit Google)

Elon Musk's firing of Twitter's top executives will be extremely lucrative. Musk recently took over Twitter following a turbulent few months in which he offered to buy it for $44 billion, tried to back out of the deal, was sued by Twitter, and eventually agreed to buy it again. Musk, now in charge, is expected to reorganize the company and reduce its workforce. Although the extent of Musk's intended cuts is unknown, any such move is expected to include the majority of Twitter's C-suite, according to people familiar with the acquisition deal. The CEO, CFO, and top lawyer had already left by Thursday evening. [caption id="attachment_56315" align="aligncenter" width="1200"]

Parag Agrawal[/caption] Getting fired by Musk will almost certainly result in the executives receiving some of the largest payouts they've ever seen. So long as Musk fires them, they will receive a certain amount of severance and an automatic acceleration of their shares under "change in control" provisions in their employment contracts. The provisions are made public through regulatory filings. Agrawal, who was fired by Musk months ago, is set to receive the largest payout of $38.7 million, owing to the entirety of his shares vesting upon his termination. Ned Segal, Twitter's chief financial officer, is set to receive a $25.4 million severance pay. [caption id="attachment_56314" align="aligncenter" width="1200"]

Elon Musk[/caption] The chief legal officer, Vijaya Gadde, will leave with $12.5 million. The chief customer officer, Sarah Personette, would receive $11.2 million. Twitter's executives have been largely silent in public in the months since Musk took a large investor stake in the company and became its new owner. When Agrawal tried to chastise Musk for some of his public comments about the platform back in April, Musk quickly turned on him and announced his intention to take over the company. Musk will almost certainly have to pay Agrawal on his way out.

By Raulf Hernes

If you ask me raulf means ALL ABOUT TECH!!

Firing Twitter’s Top Executives Will Cost Hefty Amount To Elon Musk

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