The social networking platform said in a statement to the Securities Exchange, on Monday, that Elon Musk was appointed as the sole director of Twitter, and he dissolved the board of directors before completing his $44 billion acquisition of the company.
Musk became the company’s sole director “under the terms of the merger agreement,” the company told the Securities and Exchange Commission.
The company said that Twitter board members Brett Taylor, Parag Agrawal, Omid Kordstani, David Rosenblatt, Martha Lynn Fox, Patrick Beechette, Egon Durban, Phi Lee and Mimi Alemayehu will no longer serve on the board.
The dissolution of the board is among a series of changes introduced by the billionaire Tesla and SpaceX CEO after taking ownership of the company last week, concluding a six-month process.
After the acquisition, Musk also She reportedly abandoned some of the company’s top executivesincluding CEO Agrawal, Chief Financial Officer Ned Segal, and Head of Legal Policy Vijaya Jade.
Musk’s ownership has raised critics’ concerns that he will eliminate policies to modify content in a way that leads to more hate speech and misinformation on the platform. The Washington Post reported Friday that racist and anti-Semitic tweets spread quickly on Twitter after Musk’s power grab.
Musk may also allow users with banned accounts in the past, including former President Trump, to return to the platform. friday musk He said he plans to build “A content board with broadly diverse views,” and that “decisions on major content,” including about recalculations, will not be made before the board convenes.
musk It is also said that it plans to start charging users $20 per month for a verified account.
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