Elon Musk is dissolving Twitter’s board of directors, thereby consolidating control of the company

Elon Musk is dissolving Twitter’s board of directors, thereby consolidating control of the company

Elon Musk is dissolving Twitter’s board of directors, thereby consolidating control of the company



CNN

Twitter’s board of directors was dissolved on Thursday following Elon Musk’s acquisition of the company, according to a securities filing filed Monday.

The company filing said all former members of Twitter’s board of directors, including recently ousted CEO Parag Agrawal and chairman Bret Taylor, are no longer directors “under the terms of the merger agreement.”

According to the filing, Musk became “the sole director of Twitter.”

While not surprising, the move shows how the world’s richest man has quickly cemented his control of one of the world’s most influential platforms with little if any controls over his power over the company.

Almost immediately after Musk closed his $44 billion deal to acquire Twitter on Thursday, Musk resigned at least four of his top executives, including Agrawal.

The new Twitter owner plans to reconsider the company’s content moderation policy and permanent bans on users who have previously violated the platform’s policies, including former President Donald Trump, although he said over the weekend that no major ones have been imposed yet decisions have been made. He is also reportedly planning major layoffs at the company.

While Musk is known as an innovative entrepreneur, he is also known for erratic and controversial behavior. Musk received a lot of criticism this weekend tweet a connection to a fringe conspiracy theory about the violent attack on Paul Pelosi, the husband of House Speaker Nancy Pelosi.

Musk later deleted the tweet.



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