A securities filing from Monday says that Elon Musk’s takeover of Twitter on Thursday got rid of the company’s board of directors.
In the company’s filing, it says that “according to the terms of the merger agreement,” all of Twitter’s former board members, including recently fired CEO Parag Agrawal and chairman Bret Taylor, are no longer directors.
The filing says that Musk is now “the only director of Twitter.”
Even though the move wasn’t a surprise, it shows how quickly the richest person in the world has solidified his control over one of the most important platforms in the world, with few or no checks on his power over the company.
Musk bought Twitter for $44 billion on Thursday. He fired at least four of Twitter’s top executives, including Agrawal after the deal.
The new Twitter owner aims to review content moderation procedures and permanently ban anyone who violated them, including former President Donald Trump, though he stressed over the weekend that not done major decisions. He also plans big company layoffs.
People know Musk as an innovative businessman. But he is famous for his strange and controversial ways. Musk was criticized by a lot of people over the weekend for tweeting a link to a crazy theory about the violent attack on Paul Pelosi, who is married to House Speaker Nancy Pelosi.
Musk erased the tweet later.