LONDON: Tesla Inc boss Elon Musk said in a filing on Monday he will serve as chief executive of Twitter, the social media company he just bought for $44 billion, a move that Wall Street analysts have said could stretch the billionaire thin.
Musk, who also runs rocket company SpaceX, brain-chip startup Neuralink and tunneling firm the Boring Company, fired Twitter’s previous chief, Parag Agrawal, and other top company officials last week.
Tesla’s stock has lost a third of its value since Musk made an offer to buy Twitter in April, compared with 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 comment on how long Musk might remain CEO or appoint someone else.
In another filing on Monday, Musk revealed that he became the sole director of Twitter as a result of the takeover.
“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.
Shortly afterward, Musk tweeted that the move to dissolve the board “is just temporary,” without elaborating.
Last week, Musk’s takeover of the social media company for $44 billion concluded a months-long saga.
Since the takeover Musk has moved quickly to put his stamp on Twitter, which he had ridiculed for months for being slow to introduce product changes or take down spam accounts.
His teams began meeting with some employees to investigate Twitter’s software code and understand how aspects of the platform worked, according to two sources familiar with the matter.
Some staff who spoke with Reuters said they had received little communication from Musk or other leaders and were using news reports to piece together what was happening at the company.
Musk, who also runs rocket company SpaceX, brain-chip startup Neuralink and tunneling firm the Boring Company, fired Twitter’s previous chief, Parag Agrawal, and other top company officials last week.
Tesla’s stock has lost a third of its value since Musk made an offer to buy Twitter in April, compared with 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 comment on how long Musk might remain CEO or appoint someone else.
In another filing on Monday, Musk revealed that he became the sole director of Twitter as a result of the takeover.
“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.
Shortly afterward, Musk tweeted that the move to dissolve the board “is just temporary,” without elaborating.
Last week, Musk’s takeover of the social media company for $44 billion concluded a months-long saga.
Since the takeover Musk has moved quickly to put his stamp on Twitter, which he had ridiculed for months for being slow to introduce product changes or take down spam accounts.
His teams began meeting with some employees to investigate Twitter’s software code and understand how aspects of the platform worked, according to two sources familiar with the matter.
Some staff who spoke with Reuters said they had received little communication from Musk or other leaders and were using news reports to piece together what was happening at the company.
New
Lenovo 150 Wireless Compact Mouse, 1K DPI Optical sensor, 2.4GHz Wireless NanoUSB, 10m range,...
- The Compact Mouse that's built for You: The Lenovo 150 Wireless Compact Mouse, designed with your convenience in mind. It’s easy to get more done when you don’t have to waste time untangling messy cables or searching the office for new batteries. Its compact size makes it the perfect companion no matter what the occasion. Slide it into your pocket, backpack or laptop bag, and you’re ready to go
- No more distractions: With a 2.4 GHz Nano USB receiver and up to 10 months battery life, your work will never be interrupted again
- Accuracy is everything: Seamlessly glide between tasks with in-built 1000 DPI optical sensor navigation. Act quickly and accurately with the intuitive scroll wheel and thoughtfully placed buttons
SaleNew
Generic Luggage Scale, Portable Digital Luggage Scale for Suitcases, 50kg/110lb Electronic Hanging...
- 【110lb Capacity】110lb/50kg capacity digital luggage scale precisely weighs suitcases, bags and backpacks. The electronic scale has an automatic hold function, so you can know the weight of your luggage within a few seconds.
- 【With Blue Backlit】With blue backlit on the top of the light weight hanging scale, you can easily lift the luggage up and look down to read the accurate value, which takes you less strength.
- 【Easy to Use】The luggage weight scale with buckle webbing is easy to use. Just connect the attached strap to the device, clip the strap to the handle of the bag, and lift it up, it's that simple.
Source link
