Twitter CEO on Musk's Acquisition Hold Declaration: "Acquisition Will Happen... Preparing for All Scenarios"

[Image source=Yonhap News]

[Asia Economy Reporter Lee Chun-hee] While Elon Musk, CEO of Tesla, announced a temporary halt to the acquisition of Twitter, Parag Agrawal, CEO of Twitter, stated on the 13th (local time) that he expects the acquisition to be completed.

Agrawal CEO wrote on his Twitter account that day, "I expect the deal to be completed," but also said, "We must prepare for all scenarios and always do the right thing for Twitter." He added, "I am responsible for leading and operating Twitter," emphasizing, "Our mission is to make Twitter stronger every day."

Earlier that day, Musk had posted on his Twitter account, "We are temporarily pausing the acquisition deal while waiting for specific evidence supporting the calculation that spam and fake accounts on Twitter are less than 5% of total Twitter users."

A screenshot of a post by Parag Agrawal, Twitter CEO, on his Twitter account on the 13th (local time). [Image source=Twitter]

Agrawal CEO also addressed Twitter’s cost-cutting measures. He said, "Our industry is currently facing a very challenging macro environment," and refuted claims that cost-cutting should have been done after the acquisition by stating, "We will not use the (acquisition) deal as a reason to avoid making important decisions for the health of the company, and no Twitter leader will do so." Earlier, he had announced in an internal memo to Twitter employees that new hiring would be frozen and cost-cutting would begin.

Agrawal CEO added, "If necessary, I am prepared to make difficult decisions going forward," telling employees, "You can expect more changes in a better direction." He also explained that efforts are underway to bring more transparency to Twitter’s operations.

This content was produced with the assistance of AI translation services.