According to a recent report from The Information, Elon Musk fired top execs CEO Parag Agrawal and the head of legal policy, trust, and safety Vijaya Gadde “for cause” —a move that could deny them their golden parachutes.
From Breitbart News:
One source told the Information that Musk dismissed the executives “for cause” in an attempt to avoid severance payouts and unvested stock awards by suggesting that he had justification for the termination of the executives. Two sources told the New York Times that the executives were now considering their options, including legal action.
The former executives were in line for golden parachutes adding up to almost $90 million with Agrawal alone expected to receive $38.7 million due to shares vested since his departure. The research firm Equilar told Reuters that the payouts could cost as much as $122 million.
As previously reported, Musk cleaned house after taking control of Twitter, firing CEO Parag Agrawal, CFO Ned Segal, and Vijaya Gadde, head of legal policy, trust, and safety. Gadde was a primary player in the censoring of the Hunter Biden story.
Musk also shared a statement to advertisers explaining why he took over Twitter.
“I wanted to reach out personally to share my motivation in acquiring Twitter,” Musk wrote. “There has been much speculation about why I bought Twitter and what I think about advertising. Most of it has been wrong.”
“The reason I acquired Twitter is because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence,” Musk continued. “There is currently great danger that social media will splinter into far right wing and far left-wing echo chambers that generate more hate and divide our society.”
“In the relentless pursuit of clicks, much of traditional media has fueled and catered to those polarized extremes, as they believe that is what brings in the money, but, in doing so, the opportunity for dialogue is lost,” Musk continued. “That is why I bought Twitter. I didn’t do it because it would be easy. I didn’t do it to make more money. I did it to try to help humanity, whom I love. And I do so with humility, recognizing that failure in pursuing this goal, despite our best efforts, is a very real possibility.”
“That said, Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences!” Musk concluded. “In addition to adhering to the laws of the land, our platform must be warm and welcoming to all, where you can choose your desired experience according to your preferences, just as you can choose, for example, to see movies or play video games ranging from all ages to mature.”
More over at Breitbart News:
Report: Elon Musk Fired Twitter Executives ‘For Cause’ to Avoid Paying Out Golden Shower Parachutes https://t.co/Ld5MW6ZTEH
— Kal Jurinal (@KalJurinal) October 31, 2022
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