Elon Musk named sole director of Twitter, dissolves board

Elon Musk has been named sole director of Twitter, dissolving the board in spot in advance of he concluded his $44 billion acquisition of the enterprise, the social media platform stated in a securities submitting on Monday.

Musk became the sole director of the enterprise “in accordance with the terms of the Merger Arrangement,” the company advised the Securities and Exchange Fee.

Twitter’s board members Bret Taylor, Parag Agrawal, Omid Kordestani, David Rosenblatt, Martha Lane Fox, Patrick Pichette, Egon Durban, Fei-Fei Li and Mimi Alemayehou will no lengthier serve on the board, the firm stated.

The disbanding of the board is among the the string of modifications the billionaire Tesla and SpaceX CEO set in put immediately after assuming possession of the enterprise final week, concluding a 6-thirty day period process.

Immediately after the acquisition, Musk also reportedly let go of some of the firm’s top rated executives, which includes Chief Executive Officer Agrawal, Chief Financial Officer Ned Segal and Vijaya Gadde, the head of legal coverage.

Musk’s possession induced worries from critics that he will peel back content material moderation policies in a way that will guide to much more despise speech and misinformation on the platform. The Washington Publish described Friday that racist and antisemitic tweets spread quickly on Twitter immediately after Musk’s takeover.

Musk could also let users who have had accounts banned in the past, which include former President Trump, again on the system. On Friday, Musk mentioned he is setting up to create a “content moderation council with extensively numerous viewpoints,” and that “no main information decisions,” including about reinstating accounts, will happen right before the council convenes.

Musk is also reportedly scheduling to begin charging buyers $20 per thirty day period to have a verified account.

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