Tesla CEO Elon Musk has finally acquired Twitter after a moth-long saga full of twists and turns. Within minutes of his takeover, Musk did what he was speculated to do ever since the acquisition was being discussed-- firing top Twitter excutives. The CEO Parag Agrawal, the company's legal head and policy maker Vijaya Gadde, and CFO Nel Agrawal, who was appinted as the Twitter CEO in November 2021, Will leave a rich man. As per reports, Agrawal is entitiled to get $42 million from Twitter if the were terminated within 12 months of a change in control.
The research firm Equilar estimated Agrawal's base for a year along with the accelerated vesting of all awards, the company spokesperon told Reuters in a statement. The estimate was also based proxy statement.
Agrawal wa elevated as the CEO of Twitter in November last year when former CEO Jack Dorsey stepped down from his role. His total compensation for 2021 was $30.4 million, which was paid to him in strock awards.
Musk's hate hate relationship with Parag Agrawal
It was certion that Musk would fire Parag Agrawal as soon as he took over. In some of his leaked chats, Musk berated Agrawal and even mocked him for holiday in Diwali. Musk beileved that Agrawal was not the kind of man who could run Twitter.
Before buying Twitter, Musk had also exchanged a couple of chats with Agrawal and there clearly wasn't any bonhomie even when the acquisition joining the Twitter board a waste of time.
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