Elon Musk hasn’t even completed the $44 billion transaction required to purchase Twitter and top executives have already begun jumping ship!
Two top executives at Twitter are departing the Big Tech company in addition to imposing a company-wide hiring freeze as Musk inches closer to a total takeover.
Kayvon Beykpour, the general manager of consumer products, was asked to leave by Twitter CEO Parag Agrawal. And Bruce Falck, the general manager of revenue, announced his departure on Thursday.
“It’s critical to have the right leaders at the right time,” Agrawal said in a memo to staff published by the Verge.
“Effective this week, we are pausing most hiring and backfills, except for business-critical roles as determined by Staff members in partnership with their HRBPs. … We are not planning company-wide layoffs, but leaders will continue making changes to their organizations to improve efficiencies as needed.”
The truth is that this isn’t how and when I imagined leaving Twitter, and this wasn’t my decision. Parag asked me to leave after letting me know that he wants to take the team in a different direction.
— Kayvon Beykpour (@kayvz) May 12, 2022
Beykpour will be replaced by Jay Sullivan, who had been serving as the interim general manager of the consumer product. The company is searching for a replacement for Falck. Agrawal thanked the two for their work for the company and did not elaborate on why they were leaving.
Falck also tweeted about his departure and thanked his team at Twitter for all of their work.
We were able to achieve the results we did through your hard work – – quarterly revenue does not lie. Google it
— bruce.falck() 🦗 (@boo) May 12, 2022
Agrawal hinted in the memo that the hiring freeze and a drawdown of discretionary spending came because the company did not “hit intermediate milestones” in revenue and audience growth.
The internal management changes come amid Musk’s $44 billion acquisition of Twitter, which is currently being evaluated by federal authorities. Musk has sought to nudge the company to censor less content and has reportedly told banks he believes he has plans to grow revenue at the social media giant.
Earlier this week, the Tesla CEO said he opposed the company’s ban on former President Donald Trump, which came in response to the Jan. 6 Capitol riot.
However, Trump has said he’s happy at Truth Social and won’t be returning to the social media platform he was so brilliant at using.
We can expect even more massive Twitter shakeups in the coming weeks, and it couldn’t be more glorious.
Author: Elizabeth Tierney