Twitter board dissolved, Elon Musk becomes new CEO

Elon Musk dissolved the company’s board and pronounced himself in charge of the social media giant,after acquiring Twitter for $44 billion (€44.4 billion).


In a filing with the US Securities and Exchange Commission (SEC), Musk stated that he will serve as chief executive of Twitter. Earlier, he had also changed his Twitter bio to “Chief Twit.”


Musk stated in the documents that the “consummation of the merger” occurred on October 27, after which he “became the sole director of Twitter.”

Mr Musk, runs  4 other companies, including the rocket company SpaceX, brain-chip startup Neuralink and tunneling firm the Boring Company, fired Twitter’s previous chief Parag Agrawal and other top company officials last week, and has proposed revisions to the platform’s user verification process, which has been free until now.


Responding to a tweet from author Stephen King that he would not be willing to pay $20 a month to keep the verified badge on Twitter, Musk replied: “How about $8?”


The billionaire said that introducing a price was the only way to defeat trolls and bots on the platform and that Twitter could not entirely rely on advertisers to pay its bills.


Musk announced his Twitter CEO role in a securities filing. In another filing on Monday, Musk revealed that he became the sole director of Twitter as a result of the takeover.



Shortly afterward, Musk tweeted that the move to dissolve the board “is just temporary,” without elaborating.

Replying to a tweeted question on what was “most messed up at Twitter”, Musk tweeted on Sunday that “there seem to be 10 people “managing” for every one person coding.”


On Monday, Nick Caldwell, a general manager at Twitter’s Core Technologies indicated on his Twitter bio that he was no longer with the company. Caldwell and Twitter did not respond to Reuters’ request for comment outside regular business hours.



Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts