Elon Musk dissolved Twitter’s board and made himself the “sole director”A new SEC filing states that the company was formed after all former members were removed.
Tesla was created. “the sole director of Twitter,”According to the Filing, which elaborates that the people formerly on the social media platform’s board “are no longer directors of Twitter,”The $44 billion acquisition resulted in the creation of a new company.
After taking control of Twitter on Thursday night, Musk immediately fired the social platform’s CEO Parag Agrawal, CFO Ned Segal and Vijaya Gadde, head of legal policy, trust and safety — a move confirming many users’ fear about the turmoil Musk’s reign would entail for the social media platform.
In addition to Agrawal, the former board of directors included Bret Taylor, Omid Kordestani, David Rosenblatt, Martha Lane Fox, Patrick Pichette, Egon Durban, Fei-Fei Li and Mimi Alemayehou, all of whom were removed from the board after its dissolution Thursday.
This decision certainly isn’t the last of the changes that will arise from Musk’s takeover, as the billionaire plans to roll out a change to Twitter’s verification system that would require verified users to pay to keep their blue checks. Users have reacted negatively to the plan that would allow verified users to subscribe to Twitter Blue for $19.99 in 90 days.
The blue check change comes amid a mass exodus from the social media platform, as many figures across media, entertainment and politics have decided they won’t be sticking around to see what further chaos ensues on the app.
Shonda Rhimes recently resigned via Twitter by tweeting “Not hanging around for whatever Elon has planned. Bye,”Saturday morning to her 1.9million followers.
