Two Twitter leaders are leaving the company after the Musk deal
Two of Twitter’s leaders are leaving as part of a change of CEOs, according to an internal memo shared with employees Thursday, as the company struggles to acquire Elon Musk, the world’s richest man.
According to the memo obtained by The New York Times, Twitter’s general manager, Kavon Beckpur, is leaving and will be replaced by Jay Sullivan. Mr. Sullivan is currently the Interim General Manager of Consumer Products. Bruce Falk, Twitter’s general manager of revenue, is also leaving the company.
“It is important to have the right leaders at the right time,” Parag Agrawal, CEO of Twitter, said in the note to employees. Sullivan’s product vision, the ability to inspire, act quickly, and drive change is what Twitter needs now and into the future.
The memo said Twitter was also pausing most new hires and rolling back discretionary spending, although the company currently has no plans to lay off workers. Mr. Agrawal wrote that part of this stems from the company’s failure to achieve its targets in audience and revenue growth.
Twitter has been in turmoil since Musk struck a deal last month to buy the social networking service for $44 billion. The billionaire, who also runs electric car maker Tesla and rocket company SpaceX, said he would take Twitter private and wanted to improve the product. Some of Twitter’s top executives have been publicly criticized, particularly for the way they conducted speech on the service.
Musk, who is still raising some funding for the purchase, is expected to close the deal on Twitter in the next few months. In a presentation to investors, he said he wants Twitter’s revenue fivefold by 2028 and increase its users to 931 million by then, up from 217 million at the end of last year.