New Delhi: Tesla CEO Elon Musk who closed the USD 44 billion twitter acquisition deal final week and took management of the micro-blogging platform dissolved the board on Monday and was named the only director of Twitter, the social media platform mentioned in a securities submitting on Monday, The Hill reported.
Out of the various modifications that Musk made to the social media platform, the dissolution of the board of administrators is a significant step as Twitter’s board members which included Bret Taylor, Parag Agrawal, Omid Kordestani, David Rosenblatt, Martha Lane Fox, Patrick Pichette, Egon Durban, Fei-Fei Li, and Mimi Alemayehou will now now not serve on the board, in keeping with the corporate’s assertion. Elon Musk grew to become the only director of the corporate “in accordance with the phrases of the Merger Settlement,” the corporate instructed the Securities and Alternate Fee, The Hill reported.
After closing the anticipated Twitter deal, the Tesla CEO purged the highest executives of the corporate which Twitter CEO Parag Agrawal and finance chief Ned Segal left the corporate’s San Francisco headquarters.
Concerning the modifications in content material moderation insurance policies, Musk wrote in a tweet that “Twitter can be forming a content material moderation council with broadly numerous viewpoints. No main content material choices or account reinstatements will occur earlier than that council convenes.”
Twitter can be forming a content material moderation council with broadly numerous viewpoints.
No main content material choices or account reinstatements will occur earlier than that council convenes.
— Elon Musk (@elonmusk) October 28, 2022
As per media reviews, Elon Musk can also be planning to start out charging USD 20 per thirty days for customers to have a verified account. The Tesla CEO additionally instilled suspicion amongst social media customers when he tweeted on his Twitter “Let the nice instances roll” shortly after he acquired the social media platform and closed the deal.
Musk arrived on the Twitter headquarters earlier this week carrying a sink, and documented the occasion on Twitter, saying “Coming into Twitter HQ – let that sink in!” and likewise up to date his Twitter description to “Chief Twit.”
He tweeted a video of him and described his go to as an expertise that he was making an attempt to “sink in” because the Tesla CEO has till the top of the week to both shut the Twitter deal or face a trial.
Coming into Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7
— Elon Musk (@elonmusk) October 26, 2022
In April, Twitter accepted Musk’s proposal to purchase and take the social media service personal. Nevertheless, Musk quickly started sowing doubt about his intentions to observe by means of with the settlement, alleging that the corporate did not adequately disclose the variety of spam and pretend accounts on the service.
In July, in a stunning flip of occasions, Elon Musk who had lengthy been displaying his curiosity to purchase Twitter terminated the deal. The Tesla CEO did so by alleging that Twitter violated their mutual buy settlement by misrepresenting the variety of spam and pretend bot accounts on its platform.
The earlier week, Musk confirmed that he’ll transfer ahead with the Twitter buyout on the initially agreed value of USD 54.20 per share.
Nevertheless, the Twitter deal authorized proceedings had been placed on maintain by a decide overseeing the dispute till October 28.