Elon Musk fires the whole board of directors and takes over as Twitter’s ‘temporary’ CEO

If US media stories about the billionaire’s firing spree are accurate, he fired the top executives of the largest microblogging website in the world on the first day of his acquisition of Twitter.

Advertisement

According to a Securities and Exchange Commission (SEC) filing by Twitter, Elon Musk, the company’s new “Chief Twit,” is now the only director of the microblogging platform after he sacked the entire board. This occurs shortly after Musk refuted a report alleging that the business had mass layoffs prior to November 1.

If US media sources are accurate, the billionaire is on a firing frenzy and fired the senior executives of the largest microblogging website in the world on the first day after purchasing Twitter. The company’s top executives included Vijaya Gadde, the head of legal and policy, the former CEO Parag Agrawal, and CFO Ned Segal.

Business Today reported that Musk simultaneously became the director and CEO of Twitter by announcing in a separate SEC filing that “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.”

Musk did not provide a justification, but he added that his status as the sole Director or CEO was just temporary.

According to a Washington Post article, Musk intends to let go of 25% of Twitter’s personnel. The Tesla CEO had previously voiced his discontent with the microblogging site’s management system.

The action was taken three days after he successfully acquired Twitter for $44 billion. Musk’s first order of business was to remove Twitter’s senior executives, including its CEO of Indian descent, Parag Agrawal, and its legal director, Vijaya Gadde.

He had previously charged the CEO with deceiving him and Twitter investors over the volume of phoney accounts on the social media site.

Following the resignation of co-founder Jack Dorsey from the social media platform, Agrawal was named CEO of Twitter in November of last year.

Agrawal, an IIT Bombay and Stanford alum, joined Twitter more than ten years ago when there were fewer than one thousand people working there.

“Agrawal, who was appointed Twitter’s chief executive last year, had clashed” with Musk “publicly and privately in recent months about the takeover,” a New York Times report said.

Musk had also “singled out” Gadde, “criticising her for her role in content moderation decisions at the company”, it added.

Hyderabad-born Gadde led the controversial decision to permanently suspend the former US President Donald Trump’s Twitter account in January of last year, just days after pro-Trump protesters attempted to overthrow the government at the US Capitol.

Musk met with engineers and advertising executives after arriving at the company’s San Francisco headquarters on Wednesday.

The 51-year-old has pledged to change Twitter by relaxing the rules governing content moderation, improving algorithm transparency, fostering subscription businesses, and firing staff members.