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Fired Twitter CFO due to receive $25.4m severance says the past six months have been incredibly difficult

Home> News

Published 14:37 4 Dec 2022 GMT

Fired Twitter CFO due to receive $25.4m severance says the past six months have been incredibly difficult

A fired CFO is set to receive a massive pay off after being sacked by Elon Musk following his takeover of Twitter back in October.

Callum Jones

Callum Jones

Following Elon Musk's takeover of Twitter, saying it has been action-packed is an understatement.

Since the SpaceX CEO took over the social media platform, many people have left the company.

This includes a fired CFO who was one of the many to lose his job following the controversial takeover.

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Ned Segal left the company in October after five years at Twitter, and took to the social media platform to announce his departure.

"Thursday concluded 5 years @twitter," he said.

"I’m grateful for the opportunity to have worked with such an incredible group of people building the world’s town square for all of our stakeholders. The work isn’t complete, but we made meaningful progress."

Ned Segal left Twitter in October following Elon Musk's takeover.
@nedsegal/ Twitter

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The former CFO revealed the mental toll Musk's takeover and the turmoil surrounding it brought on him.

He added: "The past 6 months have pulled on every mental muscle I've developed in 48 years.

"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."

Despite Segal admitting the past six months have been difficult, he described his overall career at Twitter as 'fulfilling'.

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"The last 5 years have been the most fulfilling of my career," he said.

"The people, the potential, and the importance of Twitter. The shifts in technology, politics, culture. This will be hard to beat… but after catching my breath, I’m going to try! In the meantime, see you on @twitter!"

Segal does see good things on the horizon for Twitter though, adding he has 'great hope' for the future of the social media platform.

Upon his departure, Segal said he had 'hope' for Twitter under Musk.
REUTERS / Alamy Stock Photo

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

The former CFO might not be too unhappy to be leaving though, as he is due to receive a whopping $25.4m (£18.5 million) severance package.

Segal was one of several executives to have their contract terminated by Musk, with former CEO Parag Agrawal being another.

Agrawal is set to walk away with an even higher $38.7 million (£30 million), according to Business Insider.

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Since Musk took control of Twitter in late October, it is estimated that around 50 percent of the company's work force have been sacked, amassing to 3,700 jobs, according to the New York Times.

Featured Image Credit: Bloomberg/YouTube/LinkedIn

Topics: Twitter, Elon Musk

Callum Jones
Callum Jones

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