Parag Aggarwal did not remain in loss even after being fired from Twitter, Elon Musk was beaten like this
Billionaire businessman Elon Musk finally bought microblogging site Twitter. As soon as this deal was finalized, three big executives including CEO Parag Agarwal were shown the way out of the company. Three executives may have been discharged as soon as Musk arrives, but the new owner of Twitter has been shocked by the huge amount going to be received by all three. $100 million in equity already given and all three together under various payments (Rs 823 crore).
According to calculations done by Bloomberg News, Parag Agarwal, who stepped down as the chief executive officer less than a year ago, will get around $50 million (approximately Rs 412 crore). Chief Financial Officer Ned Sehgal and Head of Legal, Policy and Trust Vijaya Gadde will receive $37 million and $17 million, respectively.
The company will also pay the premium for health insurance Like many other top leadership of large public companies, if Twitter is sold and the job is lost during the process, Parag Agarwal and some of his other executives will get equity equivalent to one year’s salary. was entitled to. Twitter will also have to cover its health insurance premiums for one year, which will amount to about $31,000 each.
There has been criticism on such packages, many times companies have to suffer criticism about such packages given to the top leadership, because when the normal employees lose their jobs after the merger of a company, then they have to be like this. Package facilities are not available. On the other hand, those in favor of such packages believe that this enables the executives to choose the best for the shareholders and do not remain in the thinking that they should not be replaced. Parag Agarwal, 38, was working in Twitter for almost a decade. However, he was appointed CEO of the company only last year. The company was looking at the deal at $54.20 a share, even though Musk didn’t believe in the management.
