Board of directors dissolved: Musk Twitter’s “sole director”

Board of directors dissolved: Musk Twitter's "sole director"

Status: 10/31/2022 10:00 PM

First management, now board of directors: Just a few days after the acquisition, Elon Musk basically restructured short messaging service Twitter. The multi-billionaire now stands alone at the top of the stage.

Shortly after the acquisition of short messaging service Twitter, new owner Elon Musk dissolved the short messaging service’s board of directors. The boss of electric car maker Tesla and the world’s richest man is now the “sole director” of the online platform, according to a statement from the US Securities and Exchange Commission. The previous nine directors, including board chairman Brett Taylor, will no longer hold their positions.

An important control function of the committee was

The board of directors of American corporations is a mixture of a management board and a supervisory board, as is the case with German stock corporations. The functions of the body include, among other things, the selection, advice and control of top management as well as making fundamental decisions on the direction and development of the company.

After months of wrangling, the billionaire took over Twitter for $44 billion last Thursday and promptly fired the company’s boss Parag Agarwal and other key managers.

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