Sunday, May 22, 2022

Elon Musk’s Twitter deal expected to close: Parag Agrawal

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Twitter CEO Parag Agrawal stated on Saturday that the deal with Elon Musk is expected to close, but that it should not be used as an excuse to avoid major decisions for the company’s health, adding that Twitter must be prepared for all scenarios. and always do what is right for it.

This is an important update, as Elon Musk previously stated that the microblogging site’s $44 billion takeover bid is on hold.

Some have wondered why a “lame-duck” CEO would make these changes if Twitter is taken over anyway, Agrawal said. In response to these comments, the CEO stated that while he expects the deal to close, Twitter must be prepared for any scenario and always do what is best for the company.

“Yesterday we announced changes to our leadership team and operations. Changes that affect people are always difficult,” the CEO tweeted, adding: “I will not use the deal as an excuse to avoid important decisions for the health of the company, nor will I be a leader at Twitter.”

He stated that he is responsible for the management and operation of Twitter. The CEO also stated that it is their responsibility to make Twitter stronger every day. Agrawal further said that no matter who owns the company in the future, Twitter will improve as a product and business for customers, partners, shareholders and all users.

“Nobody at Twitter works just to keep the lights on. We are proud of our work,” the CEO said in a tweet. He stated that he is still focused on doing his job, which includes making tough decisions when necessary.

“I will continue to embrace the intricacies of our service and business. And more positive change is on the way,” the CEO continued.

“I will also make every effort to increase the transparency of our work. You won’t see me tweeting about the “topic of the day” or the loudest sound bite, but rather the ongoing, ongoing and difficult work our teams are doing to improve public conversation on Twitter. “He continued.

He also expressed his appreciation to the entire Twitter team. “They have stayed focused and strong, but also sharp and agile. They do the job as they always have.’ He wrote this while praising the Twitter team.

Twitter recently approved a $44 billion acquisition by Tesla CEO Elon Musk, though shareholder approval is still required. Elon Musk, on the other hand, stated that the microblogging site’s $44 billion takeover bid is on hold.

Twitter shares fell about 20% in pre-market trading on Friday following Musk’s announcement of holding the Twitter deal. Musk stated earlier this week that Twitter’s decision to ban former US President Donald Trump was a mistake and that if his takeover of the social media company is successful, he will reverse it.

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