In a filing with the US Securities and Exchange Commission (SEC), Musk said he will serve as Twitter’s CEO. Earlier, he had also changed his Twitter bio to “Chief Twit”. Musk said in the documents that “completion of the merger” occurred on October 27, after which he “became the sole director of Twitter.”
Who did Musk replace?
Late last week, Musk fired Twitter’s previous CEO, Parag Agrawal, and other top company officials. They were immediately escorted out of Twitter’s headquarters by company security following Musk’s decision. In his SEC filing to take the company private after nearly a decade of public trading on the New York Stock Exchange (NYSE), Musk noted the departure of Bret Taylor, Parag Agrawal, Omid Kordestani, David Rosenblatt, Martha Lane Fox, Patrick Pichette . Egon Durban, Fei-Fei Li and Mimi Alemayehou from the company’s board of directors. Without elaborating, however, Musk said in a tweet that the board was being dissolved only temporarily.
What other changes are coming to Twitter?
The acquisition of Twitter by Musk, who also owns SpaceX and Tesla, took months of negotiations before he finally closed the deal on Thursday. Under the merger agreement, Musk also offered to buy back all of Twitter’s outstanding bonds, according to the SEC filing. Shortly after buying Twitter, Musk met with engineers from Tesla to analyze Twitter’s software code. After Musk closed the deal on Thursday, the Washington Post reported that he also planned to lay off about 75 percent of Twitter’s 7,500 employees.
Musk buys Twitter
To view this video, please enable JavaScript and consider upgrading to a web browser that supports HTML5 video Twitter’s new boss has also hinted at monetizing Twitter’s identity verification feature by making users pay for the “blue check” used to verify important accounts such as those of journalists, media organizations, brands and others. According to a report published by The Verge, the subscription to use the paid subscription service known as Twitter Blue could increase from $5 to $20. On Sunday, Musk tweeted: “The entire verification process is being refreshed right now.” mf/ar (Reuters, AFP)
