Industry

Ousted Twitter CEO Parag Agrawal could receive $42 million

Parag Agrawal, the ousted Indian-origin CEO of Twitter, is expected to receive $42 million following his departure from the company as Elon Musk has taken control of Twitter and fired the CEO, chief financial officer and the company’s general counsel.

 

If Agrawal is fired within a year of a change in control at the company, he would receive an estimated $42 million, reports NDTV.

 

Read more:Musk takes control of Twitter, fires CEO Parag Agrawal

 

Elon Musk, the new owner of Twitter, closed the $44-billion deal to buy the company, the NDTV report added.

 

Musk is in charge of the social media platform and has fired CEO Parag Agrawal, CFO Ned Segal and General Counsel Vijaya Gadde.

 

Musk had expressed his lack of faith in Twitter’s management.

 

Read more:‘Entering Twitter HQ – let that sink in!’: Musk tweets

 

Agrawal, who served as Twitter’s previous CTO, was appointed CEO in November last year. His total compensation for 2021 was $30.4 million, the majority of which came through stock awards, according to NDTV.

 

Source: United News of Bangladesh