Elon Musk becomes Sole Director of Twitter after firing entire Board

• Image Credit: Internet

• Oct 31, 2022 | Kabir Chakraborty

Musk fired the company's top executives immediately after purchasing it for $44 billion, including CEO Parag Agrawal, CFO Ned Segal, and policy chief Vijaya Gadde.

Digital Desk: Elon
Musk, Twitter's new 'chief twit,' has fired the microblogging platform's entire
board and is now the social media giant's sole director. This comes just hours
after Musk denied a report that the company was planning mass layoffs before
November 1.

As a result of the new
owner's decision, all previous members of Twitter's board of directors are no
longer directors.

Earlier in the day, a
report stated that Musk wishes to avoid paying stock grants to fired employees,
which is why the November 1 deadline was set.

Musk fired the company's
top executives immediately after purchasing it for $44 billion, including CEO
Parag Agrawal, CFO Ned Segal, and policy chief Vijaya Gadde.

The Tesla CEO has also
reportedly asked a team to redesign the site's verification process by November
7, or they will be fired.

According to a separate
report, Musk may fire 75% of Twitter's employees, reducing the company's
headcount from 7,500 to 2,000. Although the billionaire has denied this,
speculation about layoffs continues to be one-sided, as publications such as
The New York Times, The Washington Post, and The Verge reported on the matter
based on internal documents and direct information from Twitter employees.