Elon Musk now controls Twitter: Top executive fired
New Delhi, Oct 28: Billionaire Elon Musk has taken control of Twitter. In his first decision he has fired top executives of the micro-blogging site.
Musk fired Parag Agarwal, the chief executive of Twitter. Musk had a court imposed Friday deadline to complete the Twitter deal. Agarwal had gone to court to hold the Tesla chief to the terms of a takeover deal, he had tried to dodge.
Among the others to leave the company are finance chief, Ned Segal. Head of legal policy, trust and safety Vijaya Gadde has also been fired according to a report in The Washington Post.
The Friday deadline to complete the deal was ordered by the Delaware Chancery Court in early October. Musk in an epic battle signed a deal to acquire Twitter, then tried to back out of it. This led to Twitter suing the Tesla boss. Musk had until Friday to complete the $44 billion acquisition, failing which he would have faced a court battle with the company.
In case the deal does not go through on Friday, then the next step would be a November trial.
According to the Washington Post, Musk told prospective investors that he planned to cut three quarters of Twitter's 7,500 workers when he becomes the owner of the company. The report cited documents and unnamed sources familiar with the developments.