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Thursday, July 7, 2022

Twitter loses three more top executives after Elon Musk acquisition

Twitter’s executive ranks continued to decline on Tuesday after three senior managers stepped down as the company was thrown into turmoil by the $44 billion acquisition of Elon Musk.

Ilya Brown, Vice President of Product Management; According to Bloomberg News, Twitter Services Vice President Katrina Lane and Data Science Head Max Schmeiser submitted their resignations.

“We are grateful for their hard work and leadership,” a Twitter spokesperson told Bloomberg.

“We continue to focus on providing the best experience people can have on Twitter.”

Twitter CEO Parag Aggarwal departed less than a week after ousting two top executives – the company’s general manager Kayvan Becpour and Twitter’s revenue chief Bruce Falk.

Jay Sullivan, head of consumer products, will take over from Becpore.

Bekpore tweeted on Thursday that “it was not my decision” and that Agarwal asked “to leave after telling me he wanted to take the team in a different direction.”

Ilya Brown
Ilya Brown, Vice President of Product Management, submitted his resignation.
@ilyabr0wn/twitter

Falk also tweeted that Agarwal “fired” him. That tweet was later deleted.

Agarwal cited the company’s failure to hit growth and revenue targets for the firing.

He also announced that Twitter would cut the hiring freeze as well as the budget, but had no plans to lay off employees.

“Leaders will continue to make changes in their organizations to improve efficiency as needed,” Agarwal wrote in his note to employees.

Last month, Twitter’s board of directors accepted Musk’s $54.20-a-share buyout offer.

But Musk has indicated in recent days that the deal may be closing. They have expressed dissatisfaction with the existence of spam and bot accounts.

Katrina Lane
Katrina Lane, the vice president of Twitter Services, is also leaving the company.
katrinalane/linkedin

Musk is asking the Securities and Exchange Commission to investigate Twitter’s claims that less than 5% of its daily users are spam and bot accounts.

On Tuesday, they also posted a survey to the site, asking: “Twitter claims >95% of daily active users are real, unique human beings. Has anyone had an experience like this?”

The first option featured two hysterically laughing emoji faces while the second showed “Who’s me?!” Next to the words showed a robot.

When another Twitter user commented that the SEC should investigate whether Twitter’s claims are true, Musk replied: “Hello @SECGov, anyone home?”

Max Schmeisser
Max Schmeizer, head of data science, will also leave Twitter.
max-schmider/linkedin

Earlier on Tuesday, Twitter said that if the company doesn’t prove it’s cracking down on spam and bot accounts adequately, Musk will get its $44 billion for the social media platform, despite threats from the multi-billionaire. will not be allowed to be exempted from the offer.

The San Francisco-based company filed a statement with the SEC on Tuesday morning — with Musk tweeting that he could not proceed with the deal.

Elon Musk Twitter
Musk said on Tuesday that the deal to acquire Twitter may be closed.
NurPhoto via Getty Images

“Twitter is committed to completing the transaction at the agreed-upon price,” the company said in its SEC filing.

Twitter shares have seen a 30% drop since the Tesla and SpaceX boss offered $54.20 on April 25. They were hovering at $38 on Tuesday.

World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
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