After taking over Twitter, Elon Musk made short work of it: first several top managers had to vacate their posts, now the entire supervisory board is affected. In doing so, he is cementing his power with the influential short message service.
Multi-billionaire Elon Musk dissolved the board of directors of the short message service after taking over Twitter and firing top management. According to a statement to the US Securities and Exchange Commission, the boss of the electric car manufacturer Tesla and the richest man in the world is now the “sole director” of the online platform. The nine previous directors, including board chairman Bret Taylor, would no longer hold their posts.
The board of directors of US corporations is a mixture of executive board and supervisory board, as is the case with German stock corporations. The tasks of the body include, among other things, selecting, advising and monitoring top management as well as fundamental decisions on the direction and development of the company.
Musk took over the company last Thursday after months of wrangling for $44 billion and immediately fired Twitter boss Parag Agrawal and other key managers.
Shortly after the takeover, Elon Musk announced the revision of the authenticity check of Twitter users. “The entire verification process is being overhauled,” Musk wrote in a tweet, without giving any further details. According to a media report, Twitter is considering charging for the blue tick that verifies the identity of the account holder. This was reported by the technology website “Platformer” on Sunday, citing two people familiar with the matter.
According to the report, users would then have to subscribe to Twitter Blue for $4.99 per month in order not to lose their verification seal. Twitter Blue launched last year as the social media platform’s first subscription service. It offers access to premium features on a monthly basis, including the ability to edit tweets that have already been published.
