Parag Agrawal to get $42 mn if sacked, Twitter buyout casts doubts his future

Agarwal will get an estimated $42 million if terminated within 12 months of being appointed as the CEO of the company, IANS quoting research firm Equilar has reported.

San Francisco/New Delhi: Following Tesla CEO Elon Musk's $44 billion purchase of Twitter, the microblogging network's Indian-origin CEO Parag Agrawal will be awarded $42 million approximately, if the former decides to oust Agarwal.

Agrawal took over the helm from Jack Dorsey in November 2021. According to research firm Equilar, he will get an estimated $42 million if  he is terminated within 12 months of being appointed as the CEO of the microblogging network company.

Agrawal was previously Twitter's chief technology officer (CTO) and his total compensation for 2021 was $30.4 million, according to reports.

After Tesla CEO Elon Musk acquired Twitter for $44 billion, its Indian-origin CEO Parag Agrawal said on Tuesday that the micro-blogging platform has a purpose and relevance that impacts the entire world.

"Deeply proud of our teams and inspired by the work that has never been more important. I know this is a significant change and you're likely processing what this means for you and Twitter's future," Agrawal tweeted.

The decision to sell the platform to the Tesla CEO also signals that the board is somehow not reportedly convinced in Agrawal's capabilitie, as the company is not making enough profits.

Agrawal had earlier said the Tesla CEO had decided "not to join our board which I believe is for the best".

He was set to address Twitter employees in a town hall on what this takeover means to them and allay their fears.

The Twitter buyout casts doubts on the future of Agrawal, and it is still unclear whether he would like to remain at the helm, with Musk now being at the very top of the platform.

With IANS Inputs