Ex-CEO of Twitter Parag Agrawal and 2 additional fired executives received a combined $122 million in compensation: Equilar
According to reports, Elon Musk charged the ousted executives with deceiving him and Twitter investors over the volume of phony accounts on the social media platform. Ex-CEO of Twitter Parag Agrawal and 2 additional fired executives received a combined $122 million in compensation: Equilar
According to research firm Equilar, three top Twitter executives who were new owner. Elon Musk stand to receive severance payments $122 million.
According to research firm Equilar, which specializes in CEO compensation, Agrawal’s alleged “golden parachute” was worth $57.4 million (about Rs. 470 crore), Segal’s was worth $44.5 million (roughly Rs. 370 crore), and Gadde’s was worth $20 million in an email to Reuters (nearly Rs. 160 crore).
Agrawal, who had previously served as Twitter’s CTO, was appoint CEO in November. According to a Twitter securities report, the majority of his $30.4 million (almost Rs. 250 crore) total pay for 2021 came through stock awards. Although they can be contentious, large executive compensation packages linked to changes in ownership of a company are typical to facilitate ownership transitions. In its filing, Twitter claims that it “believes that these arrangements assist in the case of a Change of Control event to maximize stockholder value and retain executive attention in the immediate period prior to, during and after the Change of Control event.”
The document indicates that payments would consist of accelerated stock award vesting. The healthcare premiums, and 100% of an executive’s yearly base income. The ousted Twitter executives “should be collecting these payouts unless Elon Musk had cause for termination, with cause in these circumstances typically being that they disobeyed the law or violated business policy.
The sources added that Agrawal and Segal were removed out of Twitter’s San Francisco offices where they were present when the agreement was finalized.