The board of directors of Twitter, made up of nine members, has been dissolved three days after the purchase of the company by billionaire Elon Musk was formalized. The agency will now have him as the sole director of the platform, as reported by The Wall Street Journal.
Its members are leaving all their positions “in accordance with the terms of the merger agreement”, something that was expected since four of them had already been fired on Thursday night, including CEO Parag Agrawal.
The company has reported these changes in a statement sent to the United States Securities and Exchange Commission (SEC). According to the document, this movement was included in the acquisition agreement that was signed last April.
The purchase of the company for 44,000 million dollars was formalized last Friday, the day that the term given by a judge to file Twitter’s complaint against Musk expired, and one of the tycoon’s first measures was to remove Twitter from the stock market of New York, so the company is now subject to less regulation.
The next one consisted of announcing that same Friday an upcoming “content moderation council” that will include “diverse points of view”, and that as long as it does not exist “there will be no major decisions on content or reestablishment of (closed) accounts”.
Musk has not commented this Monday on the dismissal of the board of directors, but he did refer to the possible return of Donald Trump to Twitter, using an ironic tone: “If they gave me a dollar for every time someone asks me if Trump come back to this platform, Twitter would be minting currency.”