Parag Agarwal was appointed CEO of Twitter on November 29, 2021.
Twitter CEO Parag Agarwal Said Friday That he still hopes to sell to Elon Musk, but if that doesn’t happen, he’s still running the company.
“While I hope the deal ends, we must be prepared for all situations and always do what is right for Twitter, “Agarwal said in a tweet.” I am responsible for managing and managing Twitter, and our job is to build a strong one. Twitter every day. “
Musk tweeted earlier Friday that the deal had been suspended until further notice about how many fake accounts were on the platform, such as spam bots. The stock has plunged nearly 10%, adding a recent sinking to the company’s price. It is now worth about 13 13 billion less than what Mask agreed to last month for a bid of about 44 44 billion.
But the musk may not move easily. He will be on the hook for the 1 billion breakup fee and could face contract violation lawsuits that could cost him billions more, CNBC reported earlier.
Agarwal’s comments came via multiple tweets, with the company saying they were stopping hiring, canceling offers and cutting costs. Two executives, including the head of consumer Kayvan Bekpur, have also left the company, who said Agarwal had told him to leave.
“People have also asked: Why manage costs now after closing?” Agarwal writes. “Our industry is in a very challenging macro environment – right now. I will not use the agreement as an excuse to avoid making important decisions for the health of the company and I will not be a leader on Twitter.”
Agarwal added that he would try to bring more transparency to the work that Twitter is doing to improve public conversations on the platform.
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Clock: Elon Musk says he is ‘still committed’ to the Twitter deal