Four Fired Twitter Executives to Receive Severance Payments Totaling More Than $140 Million

Last Updated on 10/31/2022 by てんしょく飯

Four executives, including the CEO of Twitter, who were fired by Elon Musk may receive severance packages totaling $141.1 million, according to research firm Equilar.

The severance package includes one year’s salary and medical assistance.

Former Twitter CEO Parag Agrawal is expected to receive $57.4 million, CFO Ned Segal $44.5 million, policy chief Vijaya Gadde $20 million, and chief customer officer Sarah Parsonnet $19.2 million, Equilar director Amit Batish said in an October 28 statement to Forbes.

This amount includes one year’s salary and medical assistance, and according to MarketWatch, Agrawal’s base salary for 2021 was $623,000, while Segal and Gatte each received $600,000.

Agrawal, Gatte, and Sehgal will also receive a total of $119.6 million worth of vested stock as part of their severance packages, according to Twitter’s SEC filings obtained by MarketWatch.

Agrawal became the company’s CEO last November after nearly 11 years at Twitter, while Gatte served as the company’s chief legal officer for 11 years and Parsonnet was CCO for one year during his five-year tenure. Segal had also served as CFO since 2017.

The Washington Post had reported that Musk told investors last week that he planned to cut 75% of the company’s workforce, from 7,500 to about 2,000. However, Musk reportedly denied the report on March 26, telling Twitter employees that the 75% figure was inaccurate.

At this point, it is unclear how Musk will change Twitter. The world’s richest man has repeatedly criticized Twitter’s policies, while stating that the platform “cannot be a hellhole where you can post anything.”

Musk has also offered to lift the permanent ban on former President Donald Trump’s account, and last week, after Kanye West’s Instagram account was restricted for anti-Semitic remarks, he tweeted to Twitter that he was welcome, but Twitter then account was frozen.