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Is Elon Musk the new Twitter CEO? find details
Tesla CEO Elon Musk
Musk fired Twitter CEO Parag Agrawal the day he took office but has yet to appoint a new CEO. However, a signed document he recently filed with the SEC reveals a different story.
New Twitter boss Elon Musk has no idea who the new Twitter CEO is. Musk fired Twitter CEO Parag Agrawal the day he took office but has not appointed a new CEO. However, a signed document he recently submitted to the SEC reveals a different story. The document lists Elon Musk as the new CEO of Twitter, but a public announcement about the same is expected to happen soon. Musk parted ways with Parag Agrawal, chief legal officer Vijaya Gadde and chief financial officer Nel Segal as soon as the deal was done. After firing top executives, Musk dissolved Twitter's board and became the company's sole director.
"On October 27, 2022, and as a result of the consummation of the Merger, Mr Musk became the sole director of Twitter. 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," the SEC filing revealed.
However, Musk has called the changes "temporary". This means that Musk will no longer be the director; he is also expected to form the board soon. Musk is also set to make significant changes to the site verification process. According to reports, the CEO of Tesla will ask verified users to pay a monthly sum of $20 to keep his blue mark. Users who do not pay the sum will have to drop their blue tick. Another report claimed that Musk would be shedding about 75 per cent of the staff, reducing the headcount from 7,500 to 2,000. However, Musk has denied the reports.
