Elon Musk Dissolves has dissolved Twitter’s board of directors – cementing his control over social media platform.
The multi-billionaire will be its chief executive after buying the company last week, ending months of back and forth over the $44bn (£38.3bn) deal.
He has moved quickly to put his mark on the firm, which is used by politicians and journalists around the world.
The reforms he is contemplating include changes for how Twitter verifies accounts, as well as job cuts.
According to Washington Post the first round of cuts is under discussion that could affect 25% of the company’s staff.
Top executives have already been removed, as Mr Musk brings in high profile allies to the company.
The latest move will mean that he is now chief executive of three companies. Along with taking the top role at Twitter, Mr Musk is chief executive of electric car maker Tesla and rocket company SpaceX.
Twitter co-founder Jack Dorsey has rolled his entire stake of 18m shares, worth almost $978m at the buyout price of $54.20, into the new private company, according to a filing with the US Securities and Exchange Commission on Monday.
Mr Dorsey, who left Twitter’s board in May, supported Mr Musk’s purchase of the firm.
BBC
