Parag Agrawal just made $42 million as a severance package. His 2021 pay package was around $30 million. You'd save around $10 million by shifting him over into an advisor role, telling him to go home and lounge by the pool, and calling him any time you needed whatever insight he might be able to offer. I don't expect you'd call him very often, since I don't think he did an insanely great job as CEO, but maybe he's got the password to the office safe or something.
I'm too lazy to look up the details for the other execs who were fired, but the same kind of math likely applies.
I assume that they're no less limited in what they can say publicly than they would be if they were still employed as officers of the company. Severance agreements often come with NDAs. So that's probably a wash.
It is possible that there's some value in sending the message that nobody is safe. My personal opinion is that managing from fear like that isn't long-term valuable, and I think moving them into clear advisory roles sends the same message, but I could be wrong there.
> since I don't think he did an insanely great job as CEO
TBF he did the one thing he needed to do - sell Twitter at an absurdly high valuation, great for all stockholders especially in this market. And, he kept Twitter chugging along without any failures. I can't expect more from a CEO.
EDIT: I see the rest of your comment is about why Elon wouldn't need him. With that, I can somewhat agree, though Parag has been at Twitter for a long time, and as CTO as well.
Parag Agrawal just made $42 million as a severance package. His 2021 pay package was around $30 million. You'd save around $10 million by shifting him over into an advisor role, telling him to go home and lounge by the pool, and calling him any time you needed whatever insight he might be able to offer. I don't expect you'd call him very often, since I don't think he did an insanely great job as CEO, but maybe he's got the password to the office safe or something.
I'm too lazy to look up the details for the other execs who were fired, but the same kind of math likely applies.
I assume that they're no less limited in what they can say publicly than they would be if they were still employed as officers of the company. Severance agreements often come with NDAs. So that's probably a wash.
It is possible that there's some value in sending the message that nobody is safe. My personal opinion is that managing from fear like that isn't long-term valuable, and I think moving them into clear advisory roles sends the same message, but I could be wrong there.