Business

Two Twitter leaders are leaving the company following the Musk agreement




Two of Twitter’s executives are leaving as part of a shake-up of top executives, according to an internal memo shared with employees on Thursday, while the company struggles with a takeover from Elon Musk, the world’s richest man.

Kayvon Beykpour, Twitter’s general manager, is leaving and will be replaced by Jay Sullivan, according to the memo, obtained by The New York Times. Mr. Sullivan is currently interim general manager of the consumer product. Bruce Falck, Twitter’s general manager of revenue, is also leaving the company.

“It is crucial to have the right leaders at the right time,”[ads1]; Parag Agrawal, CEO of Twitter, said in a note to employees. Mr. Sullivan’s “product vision, ability to inspire, move quickly and drive change is what Twitter needs now and in the future.”

The memo said that Twitter also stopped most new hires and withdrew on discretionary expenses, even though the company is not currently planning layoffs. Part of this stems from the company not achieving goals in audience and revenue growth, Mr. Agrawal wrote.

Twitter has been in turmoil since Musk signed a $ 44 billion deal last month to buy social media. The billionaire, who also runs the electric car manufacturer Tesla and the rocket company SpaceX, has said that he wants to take Twitter privately and wants to improve the product. He has publicly criticized some of Twitter’s top executives, especially for the way they have moderated speeches on the service.

Mr. Musk, who is still planning financing for the purchase, is expected to terminate the deal for Twitter in the coming months. In a pitch to investors, he has said that he wants to fivefold Twitter’s revenue by 2028 and increase users to 931 million by then, up from 217 million at the end of last year.



Source link

Back to top button