3

Twitter CEO Parag Agrawal says he fired key execs due to 'challenging' economy

 1 year ago
source link: https://finance.yahoo.com/news/twitter-ceo-parag-agrawal-says-202549606.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.

Twitter CEO Parag Agrawal says he fired key execs due to 'challenging' economy

Taylor Hatmaker
Sat, May 14, 2022, 5:25 AM·3 min read
a557e3ec95009d83360e0c26e83ec2bc

Twitter's new CEO Parag Agrawal has largely remained silent through the company's ongoing rollercoaster ride, even as its likely future owner Elon Musk continues to very much do the opposite.

But Agrawal finally broke his silence following an especially tumultuous week at the company, which saw him oust two key executives, Twitter's head of product Keyvon Beykpour and Bruce Falck, who led the revenue side of the company.

"The truth is that this isn’t how and when I imagined leaving Twitter, and this wasn’t my decision," Beykpour said of the surprise decision, which happened while he was out on paternity leave. Beykpour explained that Agrawal asked him to leave the company due to a desire to take the consumer team "in a different direction."

In his new tweet thread, Agrawal deftly said a lot without saying much of substance, a classic CEO skill not really shared by his often casual, off-the-cuff predecessor.

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:

— Parag Agrawal (@paraga) May 13, 2022

Agrawal explained that he does expect the Musk deal to close, but that under his watch, Twitter needs to "be prepared for all scenarios." His comments mostly gesture at the current economic climate, in which the tech industry and the broader stock market have come crashing down from recent highs. Startups and tech giants alike are battening the hatches, trimming costs and putting hiring freezes in place to weather the storm. According to Agrawal, Twitter is doing the same.

"People have also asked: why manage costs now vs after close?" Agrawal said. "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."


About Joyk


Aggregate valuable and interesting links.
Joyk means Joy of geeK