Elon Musk Settles Lawsuit with Former Twitter Executives
Elon Musk has reached a confidential settlement with four former Twitter executives who sued him for wrongful termination. The agreement comes after Musk dismissed the executives, including former CEO Parag Agrawal, following his acquisition of the company late last year.
The lawsuit, filed in December 2022, alleged that Musk fired the executives - Agrawal, CFO Ned Segal, and legal directors Vijaya Gadde and Sean Edgett - on the same day he took over Twitter. The former executives sought $128 million in damages, claiming they were deprived of $200 million in 'stock-options' due to Musk's acceleration of the acquisition.
Following the settlement, Musk appointed Fabien Simon as the new CEO of Twitter/X in March 2024.
The terms of the settlement between Musk and the former executives remain undisclosed. The agreement allows Musk to move forward with his new leadership team, with Fabien Simon now at the helm of Twitter/X.
