Photo: Trevor Cokley—U.S. Air Force/U.S. Department of Defense
Edited: Added the last paragraph containing Musk's response that he became the sole director of Twitter only on a temporary basis.
Elon Musk dissolved Twitter's board and became the sole director of the company. Having his own vision of what the platform should become, he is best able to make decisions related to this.
Last Thursday, Elon Musk officially completed the Twitter takeover and became its Chief Twit (CEO). He immediately began to purge the company of potentially dangerous employees, namely former top executives who, apparently, violated company rules or even the law: Chief Executive Parag Agrawal, Chief Financial Officer Ned Segal, and legal affairs and policy chief Vijaya Gadde. So far, no specific allegations have been made, but Musk has made it clear that he has information about the actions of the executives.
Wachtell & Twitter board deliberately hid this evidence from the court. Stay tuned, more to come … pic.twitter.com/CifaNvtRtt
— Elon Musk (@elonmusk) October 31, 2022
A filing with the US Securities and Exchange Commission today revealed that Musk has dismissed the firm's board and assumed the role of director.
“On October 27, 2022, and as a result of the consummation of the Merger, Mr. Musk became the sole director of Twitter
In accordance with the terms of the Merger Agreement, effective as of the effective time of the Merger, the following persons, who were directors of Twitter prior to the effective time of the Merger, are no longer directors of Twitter: Bret Taylor, Parag Agrawal, Omid Kordestani, David Rosenblatt, Martha Lane Fox, Patrick Pichette, Egon Durban, Fei-Fei Li and Mimi Alemayehou.”
Musk clarified the situation by adding that he became the sole director of Twitter only on a temporary basis. It should be assumed that the new owner will form a board of directors, which will include people who, in his opinion, will be more suitable to represent the interests of the company and take care of its development.
This is just temporary
— Elon Musk (@elonmusk) October 31, 2022
© 2022, Eva Fox | Tesmanian. All rights reserved.
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Article edited by @SmokeyShorts; follow him on Twitter
About the Author
Eva Fox
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.
