Musk Dissolves Twitter Board, Becomes Sole Director

New Twitter owner Elon Musk on Monday dismissed the social media platform's board and made himself sole director
GRUENHEIDE, GERMANY - AUGUST 13: Tesla CEO Elon Musk talks during a tour of the plant of the future foundry of the Tesla Gigafactory on August 13, 2021 in Grünheide near Berlin, Germany. The US company plans to build around 500,000 of the compact Model 3 and Model Y series here every year. (Photo by Patrick Pleul - Pool/Getty Images)

At a glance

  • The restructuring was part of the terms of agreement in which the billionaire Musk bought Twitter and took over last week.
  • The dissolving of the board was reportedly confirmed by the Securities and Exchange Commission.
  • In complete the purchase of Twitter last week, Musk also has fired CEO Parag Agrawal, CFO Ned Segal and others.
  • Musk also reportedly plans to run the platform with roughly one-quarter of its previous workforce, dropping the total number of employees from about 7,500 to 2,000.

 

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