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CEO Parag Agrawal says Musk-Twitter deal on track to close, but ready for all scenarios

Twitter CEO Parag Agrawal said Saturday that the Elon Musk deal is expected to close, but the deal is not an excuse to avoid making important decisions about the company’s health, adding that Twitter needs to be prepared for all scenarios and always do Things that fit it.

This is an important update as Elon Musk earlier announced that a $44 billion (approximately Rs 34,080 crore) offer to buy the microblogging site was on hold.

Agrawal said that despite the constant questioning why the “lame duck” CEO would make these changes if Twitter was acquired anyway. In response to the comments, the CEO said that while he expects the deal to close, Twitter needs to be prepared for all scenarios and always do the right thing.

“We announced changes to our leadership team and operations yesterday. Changes that impact are always hard,” the CEO tweeted, adding, “I won’t use this deal as an excuse to avoid making changes for the health of the company. Important decision, nor any of Twitter’s leaders.”

He said he was in charge of leading and running Twitter. The CEO also noted that their job is to build a stronger Twitter every day.

Agrawal continued that regardless of the company’s future ownership, Twitter will improve as a product and business, serving customers, partners, shareholders and all users.

“Nobody on Twitter is just there to keep things going. We’re proud of our work,” the CEO tweeted. He said he remains focused on work, including making tough decisions as needed.

“I will continue to the profound complexity of our services and business. You can expect more changes,” the CEO added.

“I will also try to bring more transparency to the work we do. You won’t see my tweets about ‘talk of the day’ or the loudest voices, but about what we’re doing, ongoing and challenging Sex work tweets. The team is working hard to improve the public conversation on Twitter,” he continued.

He also thanked the entire Twitter team. “They’re strong and focused, sharp and nimble. They’ve been doing the job like they’ve always been,” he wrote in a tweet praising the team.

Twitter recently agreed to a $44 billion takeover by Tesla CEO Elon Musk, but it still needs shareholder approval. However, Elon Musk announced that a $44 billion offer to buy the microblogging site was on hold.

Twitter shares tumbled about 20% in premarket trading Friday after Musk announced that Twitter was suspending trading.

Musk said earlier this week that Twitter’s decision to former U.S. Donald Trump was a mistake and that he would reverse the decision if he succeeded in acquiring the social media company.


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