Elon Musk to become Twitter CEO

After completing his USD 44 billion acquisition of Twitter Inc, Elon Musk will become the CEO of the company, replacing Parag Agrawal. He also intends to reverse the permanent ban on users, according to a Bloomberg report.

Agrawal was fired along with other major executives upon completion of the takeover, Bloomberg on Friday reported citing a person familiar with the matter.

The Tesla and Space X owner is expected to remain CEO of Twitter in the interim period but may eventually cede the role in the longer term, the report said.

According to multiple reports in US media, Twitter's Chief Financial Officer Ned Segal and Vijaya Gadde its legal and policy executive as well as Ned Segal, its chief financial officer Ned Segal were asked to go.

Musk, ahead of his USD 44 billion Twitter acquisition deal had dismissed speculation about why he'd buy the micro-blogging platform and his thoughts on advertising.

"The reason I acquired Twitter is that it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence. There is currently great danger that social media will splinter into far right wing and far left-wing echo chambers that generate more hate and divide our society," he said in a statement on Thursday.