In a series of tweets on Friday, Twitter’s CEO Parag Agrawal said that he expects the $44 billion acquisition deal with Elon Musk to go through, adding that the impending transaction can’t be an excuse to avoid making important decisions for the company’s health. Twitter must be prepared for all scenarios amid a tough macro environment. Twitter CEO Parag Agrawal has posted a detailed thread on the recent changes in his team and why he effected them at a time when the micro-blogging site is set to be acquired by Tesla CEO Elon Musk.
We announced changes to our leadership team and operations yesterday. Changes impacting people are always hard. And some have been asking why a “lame-duck” CEO would make these changes if we’re getting acquired anyway. The short answer is very simple:— Parag Agrawal (@paraga) May 13, 2022
The long post came a day after Twitter fired two senior executives and Mr. Musk announced that the $44 billion deal of him acquiring the site is currently on hold as he waits for data on fake accounts. Mr. Agrawal said, “some have been asking why a ‘lame-duck’ CEO would make changes if we’re getting acquired anyway”. “The short answer is very simple: While I expect the deal to close, we need to be prepared for all scenarios and always do what’s right for Twitter. I’m accountable for leading and operating Twitter, and our job is to build a stronger Twitter every day.” he tweeted.
No one at Twitter is working just to keep the lights on. We take pride in our work. Regardless of the company’s future ownership, we’re here improving Twitter as a product and business for customers, partners, shareholders, and all of you.— Parag Agrawal (@paraga) May 13, 2022
Agrawal now has two sizable problems: Musk, who’s threatening to pull out of the deal, and his own company, which has now been shaken both by the chaotic acquisition deal and Agrawal’s newly announced hiring freeze and dismissal of two top product leaders. “I won’t use the deal as an excuse to avoid making important decisions for the health of the company, nor will any leader at Twitter,” Agrawal wrote today. He said to “expect more change for the better” while he remains CEO.
So what can you expect from me going forward? I’m still focused on doing the job, and that includes making hard decisions as needed. I will continue to embrace the deep complexities of our service and our business. And you can expect more change for the better.— Parag Agrawal (@paraga) May 13, 2022
Agrawal went on to say that regardless of who owns Twitter in the future, the firm would improve as a product and a business for customers, partners, shareholders, and all users. He said that he is accountable for leading and operating Twitter. He also thanked the entire Twitter team for their efforts.”They have stood strong and focused, sharp and agile. They’ve been doing the work, as they always have,” he wrote while praising the team at Twitter.
Finally – so much gratitude for our whole Twitter team. They have stood strong and focused, sharp and agile. They've been doing the work, as they always have. Onward.— Parag Agrawal (@paraga) May 13, 2022