Twitter’s current CEO has only had months on the job
According to CNBC writer David Faber, Elon Musk is anticipated to take up the CEO role at Twitter on a temporary basis after his purchase of the firm complete later this year. According to Faber, Musk disclosed the intentions in presentations to potential takeover funders.
Musk hasn’t specified publicly what would happen to the company’s top executives once the deal is finalised, and current Twitter CEO Parag Agrawal — who has only been in the position for five months — has been coy about his chances of staying on.
With Musk’s obligations to Tesla and SpaceX, where he also serves as CEO, there had been conjecture that he may have to relinquish control of Twitter. That appears to be the case now, although not right away.
Musk had already lined up a new CEO, according to a source told Reuters last week. Musk would be a “great leader for Twitter” as it turns private, according to Saudi Prince Alwaleed bin Talal, a big Twitter investor who will remain engaged in the private firm.
Faber, who is reporting on the plans, recently broke the news that Jack Dorsey would resign as Twitter’s CEO in November, indicating that he is well-connected in the Twitter world. Of course, with Musk involved, things could alter at any time. Musk was due to join Twitter’s board of directors last month, but he dropped out, and now the firm is under his control.
Last Monday, Twitter agreed to Musk’s $44 billion buyout. Musk announced more than $7 billion in additional capital this morning.