Don't know what direction Twitter will go in: CEO Parag Agrawal tells anxious employees
New York(PTI): Twitter's India-born CEO Parag Agrawal has told worried employees that he doesn't know what direction this company will go in once the whopping USD 44 billion deal, which will take the social media giant private, closes with new owner billionaire Elon Musk.
The remarks by Agrawal, who took over the helm of the social networking giant just five months ago, came during a meeting with Twitter employees on Monday afternoon after the company said it had accepted Musk's offer to buy it for about USD 44 billion.
It's important to acknowledge that all of you have many different feelings about what is happening, The New York Times newspaper quoted Agrawal as saying.
The American daily, which listened to the meeting, said that Agrawal told employees that he estimated the deal might take three to six months to complete.
In this moment, we operate Twitter as we always have," he said, adding that how we run the company, the decisions we make, and the positive changes we drive that will be on us, and under our control.
Uncertainty now hangs over the fate of Twitter employees, who voiced concern over layoffs in the wake of the acquisition by Musk.
The NYT report added that it is unclear how hands-on Musk plans to be at Twitter.
Among the unanswered issues are whom he might pick to lead the company and how involved he would be in running the service, it said, adding that Agrawal is expected to remain in charge at least until the deal closes.
The NYT report added that in the employee meeting, Agrawal acknowledged the uncertainty ahead.
Once the deal closes, we don't know what direction this company will go in, 37-year-old Agarwal said. Upon completion of the transaction, Twitter will become a privately held company.
The transaction, which has been unanimously approved by the Twitter Board of Directors, is expected to close in 2022, subject to the approval of Twitter stockholders, the receipt of applicable regulatory approvals and the satisfaction of other customary closing conditions.
On Monday, as Twitter Chairman Bret Taylor announced that Tesla and SpaceX founder Musk will acquire the company, Agrawal tweeted, Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important.
The NYT report said that in the meeting with Twitter employees, Agrawal and Taylor nodded to the emotions of the day and how workers were most likely processing the news of a sale.
Agrawal said compensation would remain largely the same under Musk but he did not make the same assurances about Twitter's policies and culture, the NYT report said.
Agrawal told employees that their stock options would convert to cash when the deal closes. Employees would receive their same benefits packages for a year after the deal was finalised, the NYT report said.
In response to a question about whether former President Donald Trump, who was permanently suspended from the social networking site in January 2021, would be allowed back on the platform, Agrawal said We constantly evolve our policies.
Following the acquisition, Musk, the world's wealthiest person, said, Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated."
"I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. Twitter has tremendous potential I look forward to working with the company and the community of users to unlock it," the 50-year-old Tesla CEO said.
The social media site's co-founder Jack Dorsey, who had stepped down in November last year, had declared that his trust" in Agrawal as our CEO is bone deep when he had named the India-born executive as Twitter's new CEO on November 29, 2021.
Dorsey had said that after almost 16 years at the company he had decided it was finally time for him to leave and the first reason he had given for why it was the right time for his departure was Parag becoming our CEO."
"The board ran a rigorous process considering all options and unanimously appointed Parag. He's been my choice for some time given how deeply he understands the company and its needs. Parag has been behind every critical decision that helped turn this company around. He's curious, probing, rational, creative, demanding, self-aware, and humble. He leads with heart and soul, and is someone I learn from daily. My trust in him as our CEO is bone deep," Dorsey had said.
Agrawal had said in a note posted on Twitter that he was honoured and humbled by his appointment and expressed gratitude to Dorsey's continued mentorship and your friendship.
An IIT Bombay and Stanford alumnus, Agrawal had joined Twitter 10 years ago when there were fewer than 1,000 employees.
While it was a decade ago, those days feel like yesterday to me. I've walked in your shoes, I've seen the ups and downs, the challenges and obstacles, the wins and the mistakes. But then and now, above all else, I see Twitter's incredible impact, our continued progress, and the exciting opportunities ahead of us, he had said in the post following his appointment.
Our purpose has never been more important. Our people and our culture are unlike anything in the world. There is no limit to what we can do together, he had said.
We recently updated our strategy to hit ambitious goals, and I believe that strategy to be bold and right. But our critical challenge is how we work to execute against it and deliver results - that's how we'll make Twitter the best it can be for our customers, shareholders, and for each of you.
The world is watching us right now, even more than they have before. Lots of people are going to have lots of different views and opinions about today's news. It is because they care about Twitter and our future, and it's a signal that the work we do here matters, Agrawal had said.
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EAM Jaishankar meets Jamaican PM, gifts over 10 BHISHM Cubes
Kingston (PTI): External Affairs Minister S Jaishankar on Monday met Jamaican Prime Minister Andrew Holness and discussed ways to further deepen "political, economic and people-to-people cooperation."
Jaishankar also conveyed greetings from Prime Minister Narendra Modi to Holness.
"Pleased to call on Prime Minister @AndrewHolnessJM in Kingston. Conveyed the greetings of PM @narendramodi," Jaishankar posted on X.
"Discussed deepening our political, economic and people-to-people cooperation. Value his commitment towards further strengthening India-Jamaica relations," the post further read.
Also, the external affairs minister handed over 10 BHISHM (Bharat Health Initiative for Sahyog Hita & Maitri) Cubes as a gift to Jamaica.
"Formally handed over 10 BHISHM Cubes as a gift from India to Jamaica, in the presence of PM @AndrewHolnessJM, Health Minister @christufton and FM @kaminajsmith," Jaishankar posted on X.
"The BHISHM Cube mobile hospital system, designed for rapid deployment, will help Jamaica during disasters and emergencies. The gift of these cubes is a statement of friendship, a commitment to disaster preparedness, and an outcome of innovation," the post said.
Jaishankar arrived in Kingston on Saturday evening, marking the first leg of his nine-day tour of Jamaica, Suriname, and Trinidad and Tobago, aimed at further strengthening India's strategic and cultural ties with the Caribbean nations.
Earlier in the day, he interacted with the Indian diaspora and discussed India's ongoing transformation in infrastructure, human development and technology-driven governance and entrepreneurship with them.
He also highlighted the cricket bond between both countries as India gifted a scoreboard to Jamaica.
A scoreboard was dedicated at Sabina Park in Kingston. It is the home of the Jamaica cricket team and is the only Test cricket ground in the Caribbean island nation.
The minister expressed hope that the new scoreboard would witness many memorable innings, including those symbolising the enduring friendship between the two countries.
Cricket has long been a strong cultural bridge between India and Jamaica, which is part of the West Indies cricket team.
Jamaican players, including Chris Gayle, Courtney Walsh and Michael Holding, have played a major role in shaping the legacy of West Indies cricket in the international arena, contributing to its dominance in earlier decades and its continued global appeal.
