JAKARTA - Twitter Inc CEO, Parag Agrawal, resigned to his fate. The successor to Jack Dorsey is reportedly the first person to be fired by the new owner of Twitter, Elon Musk.
Agrawal's comments that Twitter is entering a dark and uncertain period after the conglomerate founder of Tesla entered the company is one reason.
After all, Agrawal is not very well liked by the public. Evidently since he became CEO replacing Dorsey, last November, Twitter shares continued to decline, from 70 to 39 dollars per share before being taken over by Musk. Musk in a securities filing on April 14 said he had no confidence in Twitter's current management. Even when offered by Agrawal to join the Twitter Board, he turned it down.
If Agrawal really had to leave, then he would get around 42 million US dollars (Rp 604 billion). According to research firm Equilar, he gets the money if he is laid off within 12 months of a change of control at the social media company.
On Monday, April 25, billionaire Elon Musk struck a deal to buy Twitter for $44 billion, which saw Twitter end its journey as a publicly traded company since 2013.
The Equilar estimate includes Agrawal's one year's base salary plus accelerated award of all equity awards. This is also based on Musk's offering price of 54.20 per share and the terms in the company's recent proxy statement. But a Twitter representative declined to comment on Equilar's estimates.
Agrawal, formerly Twitter's chief technology officer. He was appointed CEO in November. His total compensation for 2021 is $30.4 million, according to Twitter proxies, mostly in stock awards.
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