May 2, 2022: Elon Musk has lined up a new Chief Executive for Twitter who will replace CEO Parag Agrawal once the $44 billion-sale of the social network is complete, news agency Reuters has reported quoting an unnamed source.

Musk told Twitter's chairman Bret Taylor last month that he does not have confidence in the San Francisco-based company's management.

Parag Agrawal, who was named Twitter's Chief Executive in November, is expected to remain in his role until the sale of the company to Mr Musk is completed.

The source who told Reuters about Musk's plans declined to reveal the identity of the replacement, the news agency reported.

Agrawal is estimated to receive $42 million if he were terminated within 12 months of a change in control at the social media company, according to research firm Equilar.