August 10, 2022
Musk-Twitter deal expected to close, but ready for all scenarios, says CEO Parag Agarwal

Twitter CEO Parag Agarwal said on Saturday that the deal with Elon Musk is expected to close, however, the deal doesn’t become an excuse to avoid making decisions that are important to the company’s health, adding that Twitter will need to deal with all scenarios. need to be ready. And always do what is right for him.

This is a significant update as Elon Musk had earlier announced that the micro-blogging site’s $44 billion (approximately Rs 3,40,800 crore) takeover bid is on hold.

Agarwal said that though some people are asking why a “lame-duck” CEO would make this change if Twitter is being acquired. In response to these comments, the CEO said that although he expects the deal to close, Twitter needs to be prepared for all scenarios and should always do what is right for it.

“We announced changes to our leadership team and operations yesterday. Changes that impact people are always difficult,” the CEO tweeted, “I will not use the deal to avoid making decisions that are important to the health of the company and Neither will any leader on Twitter.”

He said he is responsible for leading and running Twitter. The CEO also said that it is his job to build a strong Twitter every day.

Agarwal continued by saying that Twitter will be improved as a product and business for customers, partners, shareholders and all users, regardless of the company’s future ownership.

In a tweet, the CEO wrote, “No one on Twitter is just working to keep the lights on. We are proud of our work.” He said he is still focused on doing his job, and that includes making tough decisions as needed.

“I will continue to embrace the deeper complexities of our service and our business. And you can look forward to change for the better,” the CEO said.

“I will also try to bring more transparency to my work. You won’t see tweets by me on the ‘topic of the day’ or the loudest sound bites, but our teams on the ongoing, continuous and challenging work of improving public conversations on Twitter. working for.”

He also thanked the entire Twitter team. He praised the team on Twitter, writing, “They stand strong and focused, fast and agile. They are working as usual.”

Twitter recently agreed to be acquired by Tesla CEO Elon Musk in a $44 billion deal, though it’s still subject to shareholder approval. However, Elon Musk announced that the micro-blogging site’s $44 billion takeover bid is on hold.

Twitter shares fell nearly 20 percent in pre-market trading on Friday after Musk announced a moratorium on Twitter deal.

Musk said earlier this week that Twitter’s decision to ban former US President Donald Trump was a mistake and that he would reverse it if his acquisition of the social media company is successful.

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