Fired Twitter CFO, who’s getting a $25.4 million golden parachute, says ‘the past 6 months have pulled on every mental muscle I’ve developed in 48 years’

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Elon Musk and Ned Segal

  • Former Twitter CFO Ned Segal talked about the past 6 months have “pulled on every mental muscle.”
  • The govt was ousted on Thursday, nonetheless is able to stroll away with a $25.4 million golden parachute.
  • In a thread on Twitter, Segal talked about his time on the agency was “the most fulfilling” of his career.

Twitter’s former CFO Ned Segal talked about goodbye to the company in a Twitter thread on Friday morning, revealing the mental toll he expert from Elon Musk’s backwards and forwards throughout the deal.

Segal was with the company for over 5 years sooner than Elon Musk ousted him on Thursday — the equivalent day he sealed his $44 billion deal to take Twitter private.

“The past 6 months have pulled on every mental muscle I’ve developed in 48 years,” Segal talked about. “You learn so much when times are challenging and unpredictable, when we are tired or feel our integrity questioned. Our team remained kind, respectful, and steadfast. They’re lifelong friends.”

 

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Thursday concluded a months-long saga between Musk and Twitter executives, along with Segal, in which the billionaire went from planning to affix Twitter’s board to offering to buy the company outright in April, solely to attempt to stroll away from the deal in July. Twitter sued the billionaire and Musk lastly made a U-turn on his willpower to buy Twitter earlier this month after his prospects in court docket docket appeared bleak.

Despite the turmoil, Segal talked about he has “great hope” for Twitter and described his time on the agency as a result of the “most fulfilling of my career.” On Twitter, he modified the bio on his profile to “Former CFO and current fan of @Twitter.”

“At its best, it democratizes communication and knowledge, ensuring accountability and equal distribution of info,” Segal wrote. “It’s a huge responsibility for everyone that shares in the work. I wish them strength, wisdom, and foresight.”

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The former govt talked about he is “optimistic” that the social media agency will proceed to evolve as a result of the (*48*) Though, Musk has indicated he plans to eliminate numerous the agency’s insurance coverage insurance policies spherical censoring content material materials.

“The printing press also took decades to evolve from misinformation and the need for standards to incredible knowledge and idea sharing across oceans and borders,” Segal wrote.

Segal was one amongst a variety of executives Musk terminated after he closed the deal, along with former CEO Parag Agrawal. The executives are set to walk away from the company with tons of of 1000’s due to golden parachute provisions. The former CFO will acquire a $25.4 million payout ensuing from a “change in control” provision in his contract. Meanwhile, Agrawal will stroll away with $38.7 million.

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Prior to changing into a member of Twitter in 2017, Segal served as a senior vp at Intuit and the head of world software program program banking at Goldman Sachs. He might be a board member at Beyond Meat.

In his submit, Segal talked about he was “grateful for the opportunity to have worked with such an incredible group of people” at Twitter.

The executives likely won’t be the ultimate employees to go. Musk has indicated he plans to impress a sequence of layoffs on the agency.

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