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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Tension grips Bangladesh after unrest over uprising leader’s death; vandalism at several places
Dhaka (PTI): Bangladesh interim government on Friday urged citizens to resist violence by “a few fringe elements” as the body of a prominent July Uprising leader, who died in Singapore six days after he was shot, reached the capital.
Various parts of the country were rocked Thursday night by attacks and vandalism, including stone-hurling at the Assistant Indian High Commissioner's residence in Chattogram, after Chief Adviser Muhammad Yunus confirmed Sharif Osman Hadi's death in a televised address to the nation.
There were, however, no reports of fresh violence since Friday morning.
Hadi, one of the leaders who had taken part in the student-led protests last year – termed as July Uprising - and a candidate for the scheduled February 12 general elections, died while undergoing treatment at a Singapore hospital six days after he was shot by unidentified men.
Body of Hadi, who was the spokesperson of the Inqilab Mancha, arrived at Hazrat Shahjalal International Airport (HSIA) at around 6 pm on a Biman Bangladesh Airlines flight, amid tight security and widespread public mourning, state-run news agency Bangladesh Sangbad Sangstha (BSS) said quoting Biman General Manager (Public Relations) Boshra Islam.
Members of the Bangladesh Army, Armed Forces Battalion (AFB) and police were deployed in large numbers to maintain security when Hadi's body was taken out of the airport, it added.
Hadi's passing away at the Singapore General Hospital triggered widespread mourning across political circles, activists of Inqilab Mancha and the general public, BSS said.
Yunus has declared a one-day state mourning on Saturday following Hadi's death.
Earlier on Thursday, soon after Yunus' announcement, protesters took to the streets and attacked offices of leading newspapers, vandalised 32 Dhanmandi with hammers, and also demolished an office of deposed prime minister Sheikh Hasina's disbanded Awami League party in Rajshahi city.
Regarded as the centre point of Bangladesh’s pre-independence struggle for autonomy for decades, 32 Dhanmandi was largely demolished with excavators on February 5 this year. It was also set on fire soon after the August 5, 2024 fall of the then Awami League government and Hasina fleeing to India.
Protesters also hurled bricks and stones at the residence of the Assistant Indian High Commissioner in Chattogram at 1:30 am, but failed to cause any damage.
Police responded with tear gas and baton charges, dispersing the crowd and detaining 12 protesters. A few injuries were also reported.
Senior officials assured the assistant high commissioner of enhanced security.
In Dhaka, protesters attacked the office of a leading cultural group, Chhayanaut, and brought out the furniture, setting it on fire.
Sporadic violence was also reported from other parts of the country overnight.
Meanwhile, after the flight from Singapore landed in Dhaka, local media reports and videos shared on social media showed Hadi's followers lining up on both sides of the road from the airport to Shahbagh to receive him before his coffin was brought to the Dhaka University Central Mosque for a public meeting.
In a Facebook post, Inqilab Mancha announced that a janaza will be held in Bangladesh on Saturday after Zuhr prayers (afternoon) at Manik Mia Avenue in the capital.
Hadi was shot in the head last week by masked gunmen as he initiated his election campaign at central Dhaka’s Bijoynagar area. He died while undergoing treatment at a Singapore hospital after fighting for his life for six days.
On Thursday night, the National Citizen Party (NCP), a large offshoot of Students Against Discrimination (SAD) that led the July Uprising, which ousted the Hasina-led government, joined a mourning procession on the Dhaka University campus.
Supporters of the group chanted anti-India slogans alleging that Hadi’s assailants fled to India after committing the murder. They called upon the interim government to close the Indian high commission until they were returned.
“The interim government, until India returns assassins of Hadi Bhai, the Indian High Commission to Bangladesh will remain closed. Now or Never. We are in a war!” said Sarjis Alm, a key leader of NCP.
Starting Thursday through night, a group of people, believed to be part of the protesters, also attacked the offices of Bangla newspaper Prothom Alo’s office and the nearby Daily Star at the capital's Karwan Bazar, near the Shahbagh intersection.
Reports said they vandalised several floors while journalists and staff of the newspaper were trapped inside, and the mob ignited a fire in front of the building.
Critically ill former prime minister Khaleda Zia's Bangladesh Nationalist Party (BNP) strongly condemned the vandalism and said that the Yunus-led interim government will have to shoulder its responsibility.
In his address on Thursday, Yunus vowed to bring those involved in Hadi's brutal murder to justice quickly, saying, “No leniency will be shown” to the killers.
“I sincerely call upon all citizens – keep your patience and restraint,” he said.
“No one can stop the democratic progress of this country through threat, terrorist activities or bloodshed,” he said, adding that the responsibility of realising Hadi's dream lies on the shoulders of the entire.
