Elon Musk, Twitter, and lessons in (mis)management
Senior executive shakeups, mass employee layoffs and resignations, major advertisers halting their ads—it is safe to say nothing about Elon Musk’s acquisition of Twitter has gone smoothly from the start.
Just days after finalizing his purchase of the platform for $44 billion on Oct. 27, Musk began his tenure as the social media giant’s new chief executive by immediately axing top management, including his predecessor CEO Parag Agrawal; Chief Financial Officer Ned Segal; Vijaya Gadde, head of legal, policy, trust, and safety; and General Counsel Sean Edgett. Additionally, in a securities filing, Musk announced the dismantling of Twitter’s nine-member board and that he “became the sole director.”
Musk did not stop with the senior executive team. He also gutted half of Twitter’s 7,500 employees globally. In the days following the firings and mass layoffs, Twitter Chief Compliance Officer Marianne Fogarty, Chief Privacy Officer Damien Kieran, and Chief Information Security Officer Lea Kissner each resigned.