Author: Russell Brandom
Illustration by Kristen Radtke / The Verge; Getty Images
As concerns mount about the future of Elon Musk’s buyout agreement, Twitter’s board of directors has seen an unexpected shake-up.
On Wednesday, Silver Lake co-CEO Egon Durban failed to win support from a majority of Twitter shareholders to remain on the board for another term after two investor groups raised concerns that Durban sits on the board of too many public companies. Durban offered his resignation in the wake of the vote, but on Friday, the other board members declined to accept it, instead forging an agreement for Durban to resign from two other board seats over the course of the next year.
“accepting Mr. Durban’s tendered resignation at this time is not in the best interests of the Company”
In the filing, the board takes note...
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Illustration by Kristen Radtke / The Verge; Getty Images
As concerns mount about the future of Elon Musk’s buyout agreement, Twitter’s board of directors has seen an unexpected shake-up.
On Wednesday, Silver Lake co-CEO Egon Durban failed to win support from a majority of Twitter shareholders to remain on the board for another term after two investor groups raised concerns that Durban sits on the board of too many public companies. Durban offered his resignation in the wake of the vote, but on Friday, the other board members declined to accept it, instead forging an agreement for Durban to resign from two other board seats over the course of the next year.
“accepting Mr. Durban’s tendered resignation at this time is not in the best interests of the Company”
In the filing, the board takes note...
Continue reading…
Continue reading...