Twitter’s Chief Executive Officer, Parag Agrawal, has stated that two of the company’s senior executives were removed in order to minimize expenses and mitigate the effects of a difficult economy. Despite an ongoing deal to sell Twitter to Elon Musk, he emphasized that he would continue to do the right thing and make difficult decisions.
Despite Elon Musk’s announcement yesterday that the deal has been put on hold ‘temporarily,’ Agrawal stated that he expects the deal to close and that he will continue to do what is necessary to prepare for all situations.
Keyvon Beykpour, Twitter’s GM of Consumer and Head of Product, and Bruce Falck, the company’s revenue leader, were requested to attend on Thursday.
Agrawal in a Twitter thread explaining his recent decisions said: “A lot has happened over the past several weeks. I’ve been focused on the company and haven’t said much publicly during this time, but I will now. We announced changes to our leadership team and operations yesterday. Changes impacting people are always hard. And some have been asking why a ‘lame-duck’ CEO would make these changes if we’re getting acquired anyway. The short answer is very simple:
“While I expect the deal to close, we need to be prepared for all scenarios and always do what’s right for Twitter. I’m accountable for leading and operating Twitter, and our job is to build a stronger Twitter every day. No one at Twitter is working just to keep the lights on. We take pride in our work. Regardless of the company’s future ownership, we’re here improving Twitter as a product and business for customers, partners, shareholders, and all of you.”
“People have also asked: why manage costs now vs after close? Our industry is in a very challenging macro environment – right now. I won’t use the deal as an excuse to avoid making important decisions for the health of the company, nor will any leader at Twitter,” he added.
Agrawal said he is still focused on doing the job, and that includes making hard decisions as needed.
“I will continue to embrace the deep complexities of our service and our business. And you can expect more change for the better. I will also try to bring more transparency to the work that we do. You won’t see tweets from me on the ‘topic of the day’ or the loudest sound bite, but rather on the ongoing, continuous, and challenging work our teams are doing to improve the public conversation on Twitter,” he said.
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