Elon Musk, who runs 4 different corporations, will now be the CEO of Twitter

Elon Musk, who runs 4 different corporations, will now be the CEO of Twitter

October 31 (Reuters) – Tesla Inc (TSLA.O) – stated boss Elon Musk lining on Monday, he’ll function chief govt of Twitter, the social media firm he simply purchased for $44 billion. stretch the billionaire skinny.

Musk, who additionally runs the rocket firm SpaceX, the startup Neuralink and the tunnel-building firm Boring Firm, fired the previous head of TwitterParag Agrawal and different prime officers of the corporate final week.

Tesla shares have misplaced a 3rd of their worth since Musk made a suggestion to purchase Twitter in April, in contrast with a 12% drop within the benchmark S&P 500 index. (.SPX) in the identical interval.

Musk beforehand modified his Twitter bio to “Chief Twit,” hinting at his deliberate transfer.

Twitter on Monday declined to touch upon how lengthy Musk may stay CEO or appoint another person.

U another submission on Monday, Musk revealed that he has grow to be the only real director of Twitter because of the takeover.

“The next individuals who had been administrators of Twitter previous to the efficient date of the merger are not administrators of Twitter: Brett Taylor, Parag Agrawal, Omid Kardestani, David Rosenblatt, Martha Lane Fox, Patrick Pichette, Egan Durban, Fei-Fei Li and Mimi Alemaeha,” Musk stated in a press release.

Quickly after, Musk tweeted that the transfer to dissolve the board was “simply momentary,” with out elaborating.

final week, Capture of Musk of the $44 billion social media firm has ended a months-long saga. read on

For the reason that takeover, Musk has rapidly put his stamp on Twitter, which he has derided for months for being gradual to make product modifications or take away spam accounts.

His groups have begun assembly with some workers to look at Twitter’s software program code and perceive how facets of the platform work, in keeping with two sources acquainted with the matter. read on

Some workers who spoke to Reuters stated they acquired few messages from Musk or different executives and used the information to piece collectively what was taking place on the firm.

Reporting by Chavi Mehta in Bangalore, Sheila Dang in Dallas and Sayantani Ghosh in San Francisco Modifying by Devika Syamnath and Matthew Lewis

Our requirements: Thomson Reuters Trust Principles.

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