In a series of tweets on Friday, Twitter’s CEO Parag Agrawal said that he expects the $44 billion acquisition deal with Elon Musk to go through, adding that the impending transaction can’t be an excuse to avoid making important decisions for the company’s health.
He said that Twitter must be prepared for all scenarios amid a tough macro environment.
Musk, the Tesla CEO, had announced just hours before that the offer to buy the microblogging site had been put on hold over fake account details. Post which Twitter’s shares fell nearly 20% in pre-market trade on Friday.
“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”
Some have questioned why a “lame-duck” CEO would make these changes if Twitter is being acquired anyway, Agrawal tweeted. In reaction to these remarks, Agrawal said, ” 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 said that he is accountable for leading and operating Twitter.
Agrawal went on to say that regardless of who owns Twitter in the future, the firm would improve as a product and a 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.
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