Twitter informed the Securities and Exchange Commission on Monday that the Board of Directors has been dissolved and replaced with Musk, who will act as the sole director of the social media company.
Musk became the sole director of Twitter “in accordance with the terms of the Merger Agreement,” according to the SEC filing as reported by The Hill.
“On October 27, 2022, and as a result of the consummation of the Merger, Mr. Musk became the sole director of Twitter,” the filing read. “In accordance with the terms of the Merger Agreement, effective as of the effective time of the Merger, the following persons, who were directors of Twitter prior to the effective time of the Merger, are no longer directors of Twitter: Bret Taylor, Parag Agrawal, Omid Kordestani, David Rosenblatt, Martha Lane Fox, Patrick Pichette, Egon Durban, Fei-Fei Li and Mimi Alemayehou.”
Twitter has also been de-listed from the New York Stock Exchange as a consequence of the purchase by Musk.
CEO Agrawal was also removed from his position, as was Chief Financial Officer Ned Segal and former head of legal, trust and safety Vijaya Gadde, The Washington Post reported.
Rumors have persisted of mass layoffs at Twitter in the days leading up to and immediately following the purchase by Musk, but the Tesla founder has denied these claims. (RELATED: Musk Orders Layoffs Ahead Of ‘Significant’ Payout For Twitter Employees: REPORT)
To be super clear, we have not yet made any changes to Twitter’s content moderation policies https://t.co/k4guTsXOIu
— Elon Musk (@elonmusk) October 29, 2022
Musk has alluded to additional changes to Twitter’s content moderation policies on the horizon. “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,” Musk tweeted Friday.
“To be super clear, we have not yet made any changes to Twitter’s content moderation policies,” he added.