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Elon Musk dissolves Twitter’s board of directors and strengthens his control of the company as sole director

Elon Musk dissolved Twitter’s board of directors, cementing his control over the company. The move was revealed in filings with the US Securities and Exchange Commission.

The document ensures that Musk became Twitter’s sole director on October 27, following the “consummation” of the company’s acquisition deal.. The nine fired directors include former board chairman Bret Taylor and former CEO Parag Agrawal.

Another of the directives, the president of the British Chamber of Commerce, Baroness Lane-Fox, declined to comment when approached by BBC News.

LOOK: Former executive says goodbye to his position on Twitter: “The last 6 months have pulled every mental muscle I’ve developed in 48 years”

“official meme”

It has been widely reported that Musk and his team are also contemplating massive job cuts..

The first of them could affect one in four staff members, as reported by The Washington Post. Twitter did not respond to a request from the BBC for comment on this report.

The American media also say that Musk has been bringing in high-profile allies to work at Twitter, including tech investor Jason Calacanis.who changed his Twitter bio to “meme boss” on the platform and posted a photo of a coffee cup displaying a company logo.

LOOK: Vine, the app that Elon Musk wants to revive to compete against Tik Tok

“National security issue”

Amid widespread scrutiny of Musk’s inauguration, Democratic Senator Chris Murphy said he had asked the US government to review the security implications of the dealgiven the large participation on Twitter of companies linked to Saudi Arabia.

We should be concerned that the Saudiswho have a clear interest in suppressing political speech and impacting American politics, are now the second largest owner of a major social media platformMurphy wrote on Twitter.

There is a clear national security issue at stake and Cfius [el Comité de Inversión Extranjera en Estados Unidos] I should do a review”.

Source: Elcomercio

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