Elon Musk formally takes over as new Twitter CEO

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That did not drop out of the blue—it has been in the news for a while. As a matter of fact, it should probably have happened earlier than today! All hurdles have been scaled, and the keys to the Twitter headquarters in San Francisco have been formally handed over to its new owner—Elon Musk.

The Tesla CEO has now completed the $44 billion takeover of the microblogging company. He did not take him too long to announce the firing of several top executives of Twitter.

Among those axed at his assumption were CEO Parag Agrawal, chief financial officer Ned Segal, and the platform’s head of legal policy, trust, and safety Vijaya Gadde.

According to the New York Times, general counsel Sean Edgett was also asked to leave the company.

Most of those moves made by Musk did not come to many as a surprise—they were indeed expected.

The billionaire owner of Tesla posted a clip of himself entering into the Twitter premises on Wednesday.

Musk had denied several reports of plans to cut down on the company’s workforce—75 percent actually. Per Bloomberg, the billionaire denied such reports.

While addressing employees at the Twitter San Francisco headquarters on Wednesday, Musk denied the previous report. Despite assurances, Twitter employees are still anxious about the previous reports.

Earlier in October, Musk sent a letter to Twitter management proposing an end to the courtroom battle over his attempt to call off his takeover deal. In the letter, Musk also wants Twitter to accept his offer, at the original price of $54.20 per share as agreed.

Musk and his legal team it seems were not entirely confident of winning the legal tussle with Twitter. So, there is a possibility that Musk and his team may have sat down to take a second and critical look at the document, and arrived at a decision not to go ahead with the case in court.

According to a court filing as seen by Bloomberg, Musk was scheduled to answer to questions about the deal in Austin, Texas, on October 6-7, while Twitter CEO Parag Agrawal was scheduled to sit down for his disposition before the letter was sent.

A cloud of uncertainty started hovering over Elon Musk’s Twitter acquisition back in May. When the Tesla CEO in a tweet said the deal had been temporarily put on ice for reasons bothering on “calculation that spam/fake accounts do indeed represent less than 5% of users.”

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Author: Ola Ric

Ola Ric is a professional tech writer. He has written and provided tons of published articles for professionals and private individuals. He is also a social commentator and analyst, with relevant experience in the use of social media services.

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