Musk consolidates power at Twitter after board is dismissed - BNN Bloomberg

Elon Musk consolidated his control of Twitter on Monday after the entire board was dismissed.

Elon Musk consolidated his control of Twitter Inc. on Monday after the entire board was dismissed.

On Monday, Musk became the sole director of the social media company after the removal of all nine other board members, in accordance with the terms of the merger agreement, according to a securities filing. It wasn’t clear who Musk would nominate to fill the board. At the other companies he runs, including Tesla Inc., the boards are packed with Musk loyalists. His brother Kimbal Musk, is a board member at Tesla, for example.

Musk’s first few days on the job have been filled with rumor and speculation, including about how he will handle content moderation on Twitter and how many jobs he’ll cut in an effort to control costs. Concerns over massive layoffs swirled in the run-up to Musk’s take-private transaction, when potential investors were told that he’d eliminate 75 per cent of the workforce. Musk later denied that the cuts would be that deep, though he hasn’t elaborated on the plans.

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