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Top related persons:
Omid Kordestani - 1 Elon Musk - 1 Kordestani - 1 Musk - 1 X “ - 1 Kordestani’s - 1 ” - 1
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California San Francisco
Top related orgs:
Twitter - 1 Elon - 1 Court - 1

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☆ Former Twitter Board Member Sues Elon Musk’s X For $20 Million in Pay
  + stars: | 2024-08-09 | by ( Kate Conger | ) www.nytimes.com   time to read: +1 min
A former Twitter board member, Omid Kordestani, sued the social media company owned by Elon Musk on Friday, claiming that the billionaire refused to cash out more than $20 million worth of shares. Mr. Kordestani, who joined Twitter’s board in 2015 and helped oversee the sale of the company to Mr. Musk in 2022, received most of his compensation in stock. But after Mr. Musk bought the company, now called X, he refused to pay Mr. Kordestani for those shares, the lawsuit said. A representative for X did not immediately respond to a request for comment. Such a public battle between a former board member and the company he once helped manage is rare — most boardroom disputes are settled quietly behind the scenes.
Persons: Omid Kordestani, Elon Musk, Kordestani, Musk, X “, Kordestani’s, ” Organizations: Twitter, Elon, Court Locations: California, San Francisco
☆ Elon Musk, who runs four other companies, will now be Twitter CEO
  + stars: | 2022-11-01 | by ( ) www.reuters.com   time to read: +2 min
Musk, who also runs rocket company SpaceX, brain-chip startup Neuralink and tunneling firm the Boring Company, fired Twitter's previous chief, Parag Agrawal, and other top company officials last week. Musk had previously changed his Twitter bio to "Chief Twit" in an allusion to his planned move. Twitter on Monday declined comment on how long Musk might remain CEO or appoint someone else. In another filing on Monday, Musk revealed that he became the sole director of Twitter as a result of the takeover. Last week, Musk's takeover of the social media company for $44 billion concluded a months-long saga.
☆ Elon Musk has dissolved Twitter's 9-person board of directors and become its sole director
  + stars: | 2022-10-31 | by ( Grace Dean | ) www.businessinsider.com   time to read: +2 min
Elon Musk has scrapped Twitter's board of directors. Musk had himself tried to join Twitter's board in the spring before clashing with then-CEO Parag Agrawal. When first outlining his plans for his ownership of Twitter, Musk said he would need to take the company private to make his desired changes. The same evening, Musk also ousted CFO Ned Segal, chief legal officer Vijaya Gadde, and general counsel Sean Edgett, sources told Insider. Musk had himself been set to join Twitter's board before he offered to buy the company, but u-turned after clashing with Agrawal over text.
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