News: Elon Musk named sole director of Twitter, dissolves board

C-Suite

Elon Musk named sole director of Twitter, dissolves board

The technocrat on Friday said the company would create a new council to govern those decisions and that no changes would occur yet but later reversed his decision
Elon Musk named sole director of Twitter, dissolves board

Elon Musk, the new owner of Twitter, wants absolute control over Twitter. It became apparent when he dissolved the micro-blogging site’s board of directors soon after his takeover of the company.

The authority-freakTesla CEO Elon Musk had already fired Indian-origin CEO Agrawal, chief financial officer Ned Segal, the company’s policy chief Vijaya Gadde and some others.

The billionaire is also readying a list of 25% staff of the newly acquired social media firm he wants to remove.

Musk said in a filing on Monday said he will serve as chief executive of Twitter. According to Wall Street analysts, his move could stretch the billionaire thin.

"The following persons, who were directors of Twitter before 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 said in the filing.

Shortly afterwards, Musk tweeted that the move to dissolve the board "is just temporary," without elaborating.

Last week, Musk's takeover of the social media company for $44 billion concluded a months-long tussle.

Since the takeover Musk has moved quickly to put his stamp on Twitter, which he had ridiculed for months for being slow to introduce product changes or take down spam accounts.

Media reports said Musk has brought in high-profile allies to the company.

Musk’s move has drawn widespread scrutiny, as he signals plans to overhaul how Twitter has moderated the spread of information on its platform, including from sources such as state media, politicians, and celebrities.

The technocrat had earlier said the company would create a new council to govern those decisions and that no changes would occur yet.

The ‘brutal acquisition’, which ensured two Indians became casualties, is also seen from a political perspective by some.

Agrawal, 38, was appointed Twitter CEO in November last year after the social media site’s co-founder Jack Dorsey had stepped down.

As the Twitter account of former U.S. President Donald Trump was permanently suspended in January last year, Hyderabad-born Gadde was at the forefront of this dramatic decision undertaken within days of the attempted insurrection by pro-Trump supporters at the U.S. Capitol.

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Topics: C-Suite, Technology

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