Chief Twit to Chief Executive: Musk will be Twitter's CEO
Elon Musk has been quick to stamp his authority over Twitter after taking over the company. However, questions still remained about the social media website's next CEO. Now, we have an answer to that question. According to an SEC filing, Musk will serve as Twitter's CEO. It is not clear whether this is a temporary setup or a permanent decision.
Why does this story matter?
- We can finally put questions about Twitter's new CEO to rest. It will be Musk, the company's current owner. His decision to hire himself is not surprising, considering how important the next few months are for the company.
- The market is watching Musk and Twitter closely. Any slip-up now will not only affect Twitter but may also affect Tesla and Musk's other ventures.
It is unclear how long Musk will be the CEO
Shortly before Musk completed the acquisition of Twitter, he had changed his Twitter bio to 'Chief Twit.' Now we know that he wasn't kidding. The company has been without a CEO since Musk fired Parag Agrawal. Musk might hold the position of CEO until he finds someone he trusts. Or, Twitter may join the list of companies that has him as their CEO.
Musk is now the sole director of Twitter
When Musk took over Twitter, the company had a board of directors with nine members. Now, none of them remain. The Tesla chief revealed that he is the sole director of the company through another filing. The axed directors include Bret Taylor, the former chairman of the board, and Agrawal, the former CEO. Musk tweeted that the move to dissolve the board "is just temporary."
Musk has been making several changes to Twitter
Twitter has been undergoing several changes since Musk acquired the company last week. The current CEO began by axing the company's senior executives. He then changed Twitter's home page, brought Tesla engineers to review the work of Twitter engineers, and has entrusted those close to him with the company's day-to-day affairs. There are also talks about charging $20 for blue tick verification.
