Tesla boss, Elon Musk has become the Chief Executive Officer (CEO) of Twitter. This was just shortly after the removal of its former CEO, Parag Agrawal.
Since Tesla became the CEO, the current board of directors and other top executives have been dissolved. He had earlier changed his Twitter bio to “Chief Twit”.
Source: Reuters
In another filing on Monday, he revealed that he became the sole director of Twitter as a result of the takeover. In the regulatory filing announcing the Board’s dissolution, he said;
“The following persons, who were directors of Twitter before the effective time of the merger, are no longer directors of Twitter.”
The following name are; Bret Taylor, Parag Agrawal, Omid Kordestani, David Rosenblatt, Martha Lane Fox, Patrick Pichette.
Others include Egbon Durban, Fei-Fei Li, and Mimi Alemayehou.
However, it has not been revealed how long Elon Musk will be the CEO or whether he will appoint someone to oversee the affairs of the company.
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Expectations From Elon Musk As Twitter CEO
It is reported that Elon musk will be running the company alongside his other companies: Tesla, and SpaceX, amongst others.
There would be a Content Moderation Council to govern decisions on content to be allowed on the platform and accounts banned.
It was also revealed that all Twitter employees have been mandated to create ways to ensure Twitter users pay $20 per month. This is to retain their blue badge.
Note that Elon Musk financed his takeover with his money, a group of other investors, and $13bn in debt financing.
Conclusion
Will Elon Musk do better than Parag Agrawal? Or will history (acquisition) repeat itself? Will there be any more changes and expectations we should anticipate? Well, we wait and see what we make of this.
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