Nov 01,2022:Elon Musk has fired Twitter’s board of directors, giving himself unfettered control over the social media giant, according to a company filing.
Musk became “sole director” of Twitter after finalising his $44bn takeover of the company last week, according to documents filed with the US Securities and Exchange Commission (SEC) on Monday.
A photo of Elon Musk is seen through the cutout of a Twitter logo.
Elon Musk has fired Twitter’s board of directors, making himself sole director, according to a company filing [File: Dado Ruvic/Reuters]
Published On 1 Nov 2022
1 Nov 2022
Elon Musk has fired Twitter’s board of directors, giving himself unfettered control over the social media giant, according to a company filing.
Musk became “sole director” of Twitter after finalising his $44bn takeover of the company last week, according to documents filed with the US Securities and Exchange Commission (SEC) on Monday.
The Tesla CEO tweeted later on Monday that the arrangement would be “temporary” without elaborating.
Musk, who also runs spaceflight company SpaceX and neurotechnology startup Neuralink, began his tenure at the company on Thursday by firing top leadership, including Chief Executive Parag Agrawal and Chief Financial Officer Ned Segal.
Musk has also offered to buy back all of Twitter’s outstanding bonds, according to the SEC filing.
Musk, the world’s richest person, completed the purchase of the company through a combination of his own wealth, investment funds and bank loans.
