Elon Musk, world’s richest man and new owner of Twitter has said he will reverse the life bans Twitter slammed on former US president Donald Trump.
According to reports on Friday, Musk intends to replace Parag Agrawal, the Twitter CEO who was fired along with other major executives upon completion of the Twitter takeover.
A report by Daily Mail said the multi billionaire is expected to remain CEO in the interim but may eventually cede the role in the longer term.
Musk’s acquisition puts the world’s richest man in charge of a struggling social network after six months of public and legal wrangling. Among Musk’s first moves: changing the leadership. Departures include Vijaya Gadde, the head of legal, policy and trust; Chief Financial Officer Ned Segal, who joined Twitter in 2017; and Sean Edgett, who has been general counsel at Twitter since 2012. Edgett was escorted out of the building, Bloomberg News reported on Thursday.
Musk also intends to stop permanent bans on users because he doesn’t believe in lifelong prohibitions, meaning former president Donald Trump could return.
With the acquisition, Shareholders will be paid $54.20 per share, and Twitter will now operate as a private company.
The completion caps a convoluted saga that began in January 2022 with the billionaire’s quiet accumulation of a major stake in the company, his growing complaints about how Twitter was managed and an eventual merger accord that he threatened to walk out from.