Not long after our spaceman son Elon Musk has fully acquired social media giant Twitter, the rocketman has dissolved the company’s board of directors.
The move to dissolve Twitter’s board of directors was revealed by new SEC filings today, which makes Musk the sole director of Twitter. “As a result of the consummation of the Merger, Mr. Musk became the sole director of Twitter,” the filing reads.
The board included nine directors, all of which were paid millions annually, which Musk previously joked the company could save if they cut their salaries.
“In accordance with the terms of the Merger Agreement, effective as of the effective time of the Merger, the following persons, 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,” the filing states.
Soon after Musk had moved to complete the acquisition, officially, key staff were also let go nearly immediately – Chief Executive Parag Agrawal, Chief Financial Officer Ned Segal, and Vijaya Gadde, head of legal policy, trust and safety. Parag Agrawal was also on the board of directors, alongside Bret Taylor and others.
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