After taking over the social media group Twitter, the entrepreneur Elon Musk continues to work flat out to cement his sole position of power in the company. In addition to many top managers, he also dismissed the entire supervisory board.
According to a statement to the US Securities and Exchange Commission, Musk does not intend to fill the board. It has been completely dissolved. So everything boils down to the fact that the new owner of the company will henceforth exercise sole control over the business development and the processes in the group. Or as the SEC statement says: Musk will be the “sole director of Twitter”.
While this move is not fundamentally surprising, it illustrates how quickly one of the wealthiest people in the world has asserted its control over one of the most influential communication platforms in the world, with little or no control over its power over the company.
The massive upheaval should also be necessary if Musk wants to implement his ideas about the platform. After all, one of his goals is to reverse all the progress made toward open communication on Twitter in recent years. Under the cloak of free expression of opinion, actors whose behavior ensures that there is no longer any pluralistic and free communication on the platform are to be given free rein again – this is being replaced by the right of the stronger or fairer.
The purpose of the supervisory board is not simply to control and appoint top management in the interests of the shareholders. The committee is also a further interface to other areas of the economy and beyond. A former high-ranking manager from the online advertising industry, a computer science professor with an AI specialization, and a British parliamentarian sat on the Twitter board. The network effects coming from them are now gone for Twitter and replaced by Musk’s sole control.
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