Business & Economy

Twitter’s board of directors dissolved in wake of Elon Musk’s acquisition

New York, Oct 31 (EFE).- Twitter said Monday in a securities filing that its board of directors has been dissolved, an announcement that came three days after multi-billionaire Elon Musk formalized his acquisition of the social media giant.

Musk, the South African-born American CEO of Tesla and SpaceX, is now the sole director of Twitter, a newly private company whose shares are to be delisted from the New York Stock Exchange on Nov. 8.

In an item titled “Departure of Directors or Certain Officers,” Twitter said that in accordance with “the terms of the merger agreement” nine people who were on the board prior to the deal are no longer directors.

They include the company’s previous chairman and CEO, Bret Taylor and Parag Agrawal, respectively.

This latest move was highly expected after Musk fired four of the company’s most senior executives, including Agrawal, last Thursday.

The filing said Musk became Twitter’s sole director on Oct. 27 as a result of the consummation of the merger.

Among other developments in the pipeline, Musk, a self-described “free speech absolutist,” tweeted Friday that Twitter will be forming a “content moderation council with widely diverse viewpoints.”

“No major content decisions or account reinstatements will happen before that council convenes,” he added.

The most prominent individual to be banned from the platform is former US President Donald Trump, who was deemed to have violated Twitter’s Glorification of Violence policy for a pair of tweets two days after his supporters’ Jan. 6, 2021, attack on the US Capitol, a violent event that occurred while lawmakers were voting to certify President-elect Joe Biden’s electoral-college victory.

On Monday, Musk referred to the possible reinstatement of Trump, who after being boosted off Twitter launched a rival known as Truth Social.

“If I had a dollar for every time someone asked me if Trump is coming back on this platform, Twitter would be minting money!” he tweeted. EFE


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