Elon Musk to serve as temporary Twitter CEO once the deal closes
Reportedly, Musk has also accrued an additional $7 billion in equity commitments in support of the deal.
With Elon Musk’s supposed acquisition of Twitter looming, the question has remained as to how leadership of the company will shake out. Current CEO Parag Agrawal has only been in the position for a few months following former CEO Jack Dorsey’s exit from the role, but it seems Agrawal won’t be staying in that role. If recent rumors turn out to be true, it seems Musk will take over as at least temporary CEO of the company following the deal’s close.
Word of Musk’s temporary move into the CEO position of Twitter following his buyout of the company was reported recently by CNBC. According to sources familiar with the deal, Musk intends to take over the CEO role for a limited time after his $44 billion USD acquisition of Twitter goes through. It is unknown at this time if this means current CEO Parag Agrawal would stay with the company in some other capacity. However, it seems Elon Musk may also intend to install another CEO in his own stead soon after.
In addition to news of Musk’s intention to serve as temporary CEO of Twitter following the deal, it was also reported in a recent SEC filing that Musk had secured an additional $7.14 billion from friends and investors for use in the deal. This was in addition to an approximate $4 billion Musk recently dumped in Tesla (TSLA) stock for the deal as well. With money coming in from various sources, it seems more likely than ever that the deal will settle with Musk’s buyout going through. It also wouldn’t be the first time Musk has signaled a change in staff at the company if recent tweets criticizing some of its top staff are to be considered.
Nonetheless, while the Musk/Twitter deal may be nearing completion, it’s not fully settled quite yet. Stay tuned as we continue to follow this story for further updates and details.
TJ Denzer posted a new article, Elon Musk to serve as temporary Twitter CEO once the deal closes