Twitter CEO Parag Agrawal stated on Saturday that the deal with Elon Musk is expected to be completed, but that this should not be used as an excuse to avoid making important decisions for the company’s health, adding that Twitter must be prepared for all scenarios and always do what is right for it.
This is a big revelation, as Elon Musk previously stated that the microblogging site’s USD 44 billion buyout proposal is on hold.
Some have questioned why a “lame-duck” CEO would make these adjustments if Twitter is being purchased anyhow, according to Agrawal. In reaction to these remarks, the CEO stated that, while he expects the acquisition to close, Twitter must be prepared for any eventuality and always do what is best for the company.
“We announced changes to our leadership team and operations yesterday. Changes impacting people are always hard,” the CEO tweeted adding, “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.”
He stated that he is responsible for the direction and operation of Twitter. The CEO also stated that it is their responsibility to make Twitter stronger every day.
Agrawal went on to stress that regardless of who owns the firm in the future, Twitter would improve as a product and business for customers, partners, shareholders, and all users.
“No one at Twitter is working just to keep the lights on. We take pride in our work,” the CEO wrote in a tweet. He said that he is still focused on doing his job, and that includes making hard decisions as needed.
“I will continue to embrace the deep complexities of our service and our business. And you can expect more change for the better,” the CEO added.
“I will also try to bring more transparency to the work that we do. You won’t see tweets from me on the ‘topic of the day’ or the loudest sound bite, but rather on the ongoing, continuous, and challenging work our teams are doing to improve the public conversation on Twitter,” he continued.
He also expressed gratitude to the whole Twitter team. “They have stood strong and focused, sharp and agile. They’ve been doing the work, as they always have,” he wrote while praising the team at Twitter.
Twitter just agreed to a USD 44 billion takeover by Tesla CEO Elon Musk, while shareholder approval is still required. Elon Musk, on the other hand, announced that the microblogging site’s USD 44 billion purchase attempt remains on pause.
Twitter shares fell nearly 20% in pre-market trade on Friday following Musk’s announcement about the hold on the Twitter transaction.
Musk stated earlier this week that Twitter’s decision to ban former US President Donald Trump was a mistake and that if his takeover of the social media business is successful, he will reverse it.