Will Twitter CEO Parag Agrawal be soon replaced?

After striking the deal to buy Twitter for a whopping $44 billion, Tesla founder and chief Elon Musk already has the micro-blogging site's CEO Parag Agrawal's successor lined up for once the sale goes through, according to a recent Reuters report quoting an unnamed source. Last month, Musk had told Twitter's chairman Bret Taylor that he does not have confidence in Twitter's current management.

Agrawal, on the other hand, has been the CEO of Twitter for less than a year. He was appointed in November 2021 after Jack Dorsey quit as CEO. Agrawal is expected to remain as the CEO of the firm until the $44 billion sale of the social network goes through.

According to research firm Equilar, Agrawal is expected to pocket $42 million if he were terminated within 12 months of a change in control at Twitter.

Amid uncertainty regarding his future at Twitter, Agrawal has sought to quell employee anger last Friday during a company-wide meeting where employees demanded answers to how managers planned to handle an anticipated mass exodus prompted by Elon Musk.

The meeting was held after Musk repeatedly criticized Twitter's content moderation practices and a top executive responsible for setting speech and safety policies.

At the internal town hall meeting, executives said the company would monitor staff attrition daily, but it was too soon to tell how the buyout deal with Musk would affect staff retention, Reuters further reported.

Separately, Musk has also pitched lenders on slashing board and executive salaries but exact cost cuts remain unclear, according to sources familiar with the matter. One source said Musk would not make decisions on job cuts until he assumes ownership of Twitter.

Meanwhile, one Twitter employee, in a question read aloud during the meeting, asked Agrawal, "I'm tired of hearing about shareholder value and fiduciary duty. What are your honest thoughts about the very high likelihood that many employees will not have jobs after the deal closes?" one Twitter employee asked Agrawal, in a question read aloud during the meeting. Agrawal answered that Twitter has always cared about its employees and would continue to do so.