Discover Top American-Made Products!
Support local craftsmanship with these high-quality, American-made items—shop now on Amazon!
Shop NowIn a filing with the SEC recently, Elon Musk sought to acquire the totality of Twitter for $54.20 per share after weeks of curious tweets indicating he saw a requirement for modification. On that exact same day, in a press release, the management of Twitter stated Musk’s approximately $43 billion deal was an “unsolicited” and “non-binding proposal.”.
A day later on, Twitter held a Board conference, followed by an all-hands worker conference, where CEO Parag Agrawal said that the business was not being “held hostage” by Musk’s effort to purchase the social media giant.
The other day, in a filing with the SEC, Twitter’s Board submitted a Shareholder Rights Agreement that supplied a dividend right to prevent Musk’s effort to take control. The endeavor, typically called a “poison pill,” was a direct reaction on behalf of the Board to make it a lot harder for Musk to acquire a managing stake of equity in Twitter.
Here is a take a look at the members of the Board working to end Musk’s efforts..
Bret Taylor.
Taylor, the chairman of Twitter, is likewise the co-CEO of Salesforce, a cloud-based software application business. He formerly worked as primary innovation officer at Facebook from 2009 to 2012.
Parag Agrawal.
Agrawal signed up with Twitter in 2011. In late 2021, he changed Twitter creator Jack Dorsey as CEO of the business. Prior to his function as CEO, Agrawal acted as the business’s primary innovation officer.
Jack Dorsey.
After stepping down from his function as CEO, Twitter’s co-founder has actually stayed on the business’s Board. He has actually been a favorable voice behind Musk’s efforts to require responsibility in censorship and modification..
Mimi Alemayehou.
She presently functions as the senior vice president for public-private collaborations at Mastercard. Formerly, Alemayehou was a handling director and board member for Black Rhino Group’s financial investment platform..
Egon Durban.
Durban is the co-CEO of personal investment firm Silver Lake, which he assisted discovered in 1999..
Martha Lane Fox.
Lane Fox is the creator and chairwoman of Lucky Voice Group, a London-based karaoke services business.
Omid Kordestani.
When held senior positions at Google and Netscape, Kordestani is an Iranian-born business person who. He functioned as the business’s executive chairman from 2015 to 2020.
Fei-Fei Li.
Li is a teacher in Stanford University’s computer technology department. She likewise acts as the co-director for Stanford’s Institute for Human-Centered Artificial Intelligence.
Patrick Pichette.
Pichette is a basic partner at equity capital company Inovia Capital. He acted as Google’s Chief financial officer prior to Inovia.
David Rosenblatt.
Rosenblatt is the CEO of e-commerce and high-end market 1stDibs. He has actually been on Twitter’s Board since 2010.
Robert Zoellick.
Zoellick is the previous board chairman for AllianceBernstein Holding. He was formerly the president of the World Bank Group. Zoellick was the deputy secretary for the Department of State from 2005 to 2006.
Following their obvious actions to stop Musk from acquiring the social networks platform, the Board has actually come under scrutiny from external sources. Some have even alleged that the Board is breaching its fiduciary responsibility to investors.
The $TWTR board’s interests aren’t waligned with TWTR shareholders. The board serves to represent shareholders. If they refuse to act in the best interest of SHs, they should be removed and replaced by new board members who understand their fiduciary obligations. https://t.co/MqsysyktkT
— Gary Black (@garyblack00) April 17, 2022
Absolutely. It would be utterly indefensible not to put this offer to a shareholder vote. They own the company, not the board of directors.
— Elon Musk (@elonmusk) April 14, 2022
It is unknown at this time what may come of Musk’s gamble to purchase the social media company.
H/T Timcast
