Elon Musk has fired Twitter’s board of directors, giving himself unfettered control over the social media giant, according to a company filing.
Musk became “sole director” of Twitter after finalising his $44bn takeover of the company last week, according to documents filed with the US Securities and Exchange Commission (SEC) on Monday.
The Tesla CEO tweeted later on Monday that the arrangement would be “temporary” without elaborating.
Musk, who also runs the spaceflight company SpaceX began his tenure at the company on Thursday by firing top leadership, including Chief Executive Parag Agrawal and Chief Financial Officer Ned Segal.
Musk has also offered to buy back all of Twitter’s outstanding bonds, according to SEC filing. Musk made purchase of the company through a combination of his own wealth, investment funds & bank loans.
Musk’s takeover of the influential social media network has ignited an intense debate about the balance between free speech and protecting vulnerable groups from online harm.
Musk has criticised Twitter’s moderation policies & accused it of being biased towards left-wing views. He is widely expected to ease moderation rules & cut a big portion of the company’s workforce.
While acknowledging Twitter cannot be a “free-for-all hellscape”, Musk has stressed the need for a “common digital town square” where a wide range of views can be expressed and debated.
Musk conveyed discomfort with Twitter’s reliance on advertising & has also signalled an interest in requiring users to pay for the blue check mark used to verify prominent accounts & different version