The boss of the electric car manufacturer Tesla and the richest man in the world is now the “sole director” of the online platform, according to a statement to the US Securities and Exchange Commission on Monday. The nine previous directors, including board chairman Bret Taylor, would no longer hold their posts.
The board of directors of US corporations is a mixture of management board and supervisory board, as is the case with German stock corporations. The tasks of the committee include, among other things, the selection, advice and control of top management as well as fundamental decisions on the direction and development of the company.
As reported, Musk took over Twitter last Thursday after months of wrangling for $44 billion (around €44 billion) and immediately fired the head of the short message service, Parag Agrawal, and other important managers.
Video: Tesla CEO Elon Musk’s $44 billion deal What’s next for the short message service? OÖN business editor Martin Roithner with an analysis from the newsroom.
Source: Nachrichten
