Elon Musk dissolves Twitter board and is now sole director

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INDICA NEWS OFFICE-

Twitter’s new owner Elon Musk has dissolved the company’s board of directors following its takeover of the microblogging platform, according to a U.S. Securities and Exchange Commission (SEC) filing on Monday.

Musk, according to the filing, became “the sole director of Twitter,” CNN reported.

This confirms that instead of joining Twitter’s board, Elon Musk is now their sole replacement.

“On October 27, 2022, and following the completion of the merger, Musk became the sole director of Twitter,” the filing read.

“Pursuant to the terms of the Merger Agreement, effective as of the effective time of the Merger, the following individuals, 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,” according to the SEC filing.

The company’s filing says all former Twitter board members, including recently ousted CEO Agrawal and Chairman Taylor, are no longer directors “per the terms of the merger agreement.”

Musk took over as head of Twitter, and his first job would have been to fire Indian-born CEO Agrawal, chief financial officer Ned Segal, corporate policy chief Vijaya Gadde and others.

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