CEO of Twitter Parag Agrawal could receive $42 million if terminated after the Elon Musk deal

World’s one of the richest men, Elon Musk, has finally sealed the deal by buying Twitter, making it one of the biggest tech deals of all time. Obviously, this deal has sent ripples across the industry, shooting zillions of questions all around. One of the major string of questions is: What will happen to current Twitter CEO Parag Agrawal? Can he still stay in the company? What will be his powers? What if he leaves?

Twitter Takeover: What does it mean for CEO Parag Agrawal?

According to a research firm Equilar, if Elon Musk plans to terminate the current CEO of Twitter Parag Agrawal, he will walk out with loads of money, $42 million (approx Rs 320 crore) to be more precise. However, this will be the case only if Agrawal is terminated within 12 months of a change in the control of the company.

Elon Musk had earlier expressed his lack of confidence in Twitter’s management.

Notably, if Parag Agrawal is terminated, he will be Twitter’s shortest-serving CEO, with a tenure as short as six months.

Twitter-Musk Deal aftermath: Layoffs?

The Elon Musk deal has also incited feelings of fear, hope, and nervousness. As reported by The Verge, before the deal was official, CEO Agrawal set up a virtual all-hands call with his employees to inform them about the finalisation of the Musk deal. He announced that no layoffs are planned “at this time”. He further agreed that “There is indeed uncertainty about what will happen after the deal closes. Once the deal closes we don’t know which direction the platform will go.”

Agrawal has confirmed that he will remain as the company’s CEO until the deal is closed, however, he did not reveal what will happen after that. Brett Taylor, the board’s independent chair has announced that Twitter’s board will dissolve once the deal closes.

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Conclusion

Elon Musk has bought Twitter. Current CEO Parag Agrawal is making $42 million if he is terminated within 12 months of the takeover. There are concerns regarding layoffs due to the deal.