American billionaire Elon Musk has dissolved the board of directors of the company that runs the social networking site Twitter, consolidating his grip on the company, after becoming its only director.
The move was revealed in US Securities and Exchange filings.
Those financial documents say that on October 27, following the “completion” of Musk’s acquisition, he became the sole director of Twitter.
The list of directors included nine executive directors, including former chairman Brett Taylor and former CEO Parag Agrawal.
News widely indicates that Musk and his team are also considering significant job cuts.
The Washington Post reports that the first of these cuts could affect one in four employees.
US media also reports that Musk is introducing high-ranking allies to work on Twitter, including tech investor Jason Calacanis, who changed his job title on his Twitter bio, posting a picture of a coffee cup with the Twitter logo.
‘A national security issue’
In the midst of scrutiny of Musk’s acquisition of Twitter, Democratic Senator Chris Murphy said he had asked the US government to review the implications for national security, given the large stake in Twitter-owned by companies linked to Saudi Arabia.
“We have to be concerned that the Saudis, who have a clear interest in stifling freedom of political expression and influencing American politics, are now the second largest owner of a major social media platform,” Murphy wrote on Twitter.
He added, “There is a clear national security issue at stake, and the CFIUS (Committee on Foreign Investment in the United States) should review the matter.”
