It’s being reported this morning that once Elon Musk’s purchase of Twitter is complete and the deal is officially done, Musk will serve as the company’s CEO for an interim period.
Via CNBC:
Elon Musk is expected to serve as a temporary CEO of Twitter for a few months after he completes his $44 billion takeover of the social media company, sources told CNBC’s David Faber.
An SEC filing on Thursday revealed Musk secured approximately $7.14 billion in equity commitments from friends and other investors to buy Twitter. Faber said Musk handpicked the investors, ranging from $1 billion from Oracle co-founder Larry Ellison to $5 million from Honeycomb Asset Management, which invested in SpaceX. Faber added that Twitter co-founder Jack Dorsey may back it, and Musk is talking to him about the possibility of contributing shares immediately or prior to closing of the merger.
Twitter CEO Parag Agrawal has only led the company for a few months, after taking over the helm from Dorsey last November. Until now, there hadn’t been much discussion about whether Musk’s takeover of the company would lead to a leadership shakeup. Last month, Reuters reported Musk had lined up a new CEO for Twitter, citing a source familiar with the matter.
As we told you last week, Twitter’s chief censorship employee was in tears after it was announced that Musk was taking over the company.
Twitter's top lawyer Vijaya Gadde, who has shepherded the platform through some of its most contentious political battles, cried at a virtual meeting as she expressed concerns about what Elon Musk's leadership could mean for the company.https://t.co/53DPIDowAL
— POLITICO (@politico) April 26, 2022
I fully expect her to quit or be fired, just like the current CEO of the company.
I also find it interesting that Jack Dorsey might support Musk’s takeover of the company. I’ve no idea why he would support it because this censorship is all his doing. Unless maybe he somehow feels he’s created a bit of a monster and hopes Musk will make the company great again?
Who knows. I’ll just be glad when this deal is done so we can see Trump’s account on the platform unsuspended. Whether Trump uses it in the future or not, it needs to be done.