Elon Musk named himself Twitter‘s “sole director” and dissolved the company’s board of directors as part of his acquisition of the social media giant, a security filing showed Monday.
Musk’s $44 billion purchase of Twitter closed Friday and he immediately fired CEO Parag Agrawal, who served less than a year in the role, and chief financial officer Ned Segal.
The Washington Post reported Musk is expected to layoff about 25% of the workforce, about 7,000 people.
Twitter board members Bret Taylor, Parag Agrawal, Omid Kordestani, David Rosenblatt, Martha Lane Fox, Patrick Pichette, Egon Durban, Fei-Fei Li, and Mimi Alemayehou will no longer serve on the board, according to the company.
Musk’s ownership of Twitter has raised concern over the site’s future and content policies. Concern heightened after the billionaire tweeted a link to an unfounded conspiracy theory about the attack of House Speaker Nancy Pelosi‘s husband.
The tweet was liked and retweeted over 100,000 times.
