Elon Musk Dissolves Twitter’s Board Of Directors Days After Fully Acquiring It
The World’s richest man, Elon Musk has dissolved Twitter’s Board of Directors, days after acquiring the company.
The move was announced in a document filed by the company to the US Security and Exchange Commission, Business Insider reports.
The filing published on Monday read in part, “On October 27, 2022, and as a result of the Merger's consummation, 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.”
Ever since Musk announced that he has officially taken the reins of Twitter on Thursday, the billionaire has been making changes to the company.
Hours after officially closing the deal, Musk’s first move was to fire top company officials, including former CEO, Parag Agrawal. The Chief Financial Officer, Ned Segal; Chief legal officer, Vijaya Gadde; and general counsel Sean Edgett, were also dismissed the same day.