Tesla boss Elon Musk said he will serve as CEO of Twitter, the social media company he just bought for $44-billion.
said on Monday he will serve as CEO of Twitter, the social media company he just bought for US$44-billion, a move that Wall Street analysts have said could stretch the billionaire thin.
Tesla’s stock has lost a third of its value since Musk made an offer to buy Twitter in April, compared to a 12% decline in the benchmark S&P 500 index in the same period. Musk had previously changed his Twitter bio to “Chief Twit” in an allusion to his planned move. Twitter on Monday declined to comment on how long Musk might remain CEO or appoint someone else.
“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 said in the filing.
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