Posted on 04/21/2022 6:54:30 PM PDT by BurgessKoch
Amid a feared takeover bid from Tesla CEO Elon Musk, Twitter’s board of directors threatened to fight back with a “poison pill” strategy, allowing it to flood the market with new shares if Musk buys more than 15 percent of the company.
Fending off Musk’s $43 billion offer by creating more shares could dilute the value of shareholders’ stock — but Twitter’s 10 board members own just a tiny portion, Musk noted in an April 16 tweet: “The Twitter board collectively owns almost no shares! Objectively, their economic interests are simply not aligned with shareholders.”
That same day, even Twitter co-founder Jack Dorsey, who is formally leaving the board when his term expires at the company’s annual shareholder meeting next month, tweeted that the board of directors “has consistently been the dysfunction of the company.”
Musk, who owns a 9.2% stake in Twitter, has reportedly secured $46.5 billion in financing to fund his Twitter takeover bid.
After backing out of an agreement to take a seat on the board, Musk is threatening to cut board salaries to zero, a move he says will save the company nearly $3 million a year. Each non-employee board member earned $225,000 in stock in 2021, according to Twitter’s public filings. Directors, with the exception of Dorsey and his co-founder, CEO Parang Agrawal, also received $12,500 in cash, plus extra fees, ranging from $2,500 to $7,500, for serving on various board committees.
So who are these Twitter board members fighting Musk’s hostile bid? Twitter — which has come under fire for censorship, in part for banning the New York Post’s coverage of Hunter Biden’s laptop — is filled with a motley mix of tech vets, retail gurus, academics, philanthropists and former government officials.
(Excerpt) Read more at nypost.com ...
Why not name them saving us a few clicks?
Looks like most of them are left-wing hacks.
Because the names themselves (except for maybe 1 or 2) won’t mean much but their bios likely will. If want to read it’s only one, easy click away. Up to you.
Known collectively as the patrons of the Mos Eisley cantina.
One or two might have the best interests of the United States at heart, let alone that of Twitter as a company.
Bobby Zoellick!!! A BushBot!
I didn’t like him then, I really like him less now. Deep State reprobate.
The board is legally required to act in the best interests of the shareholders. DeSantis has filed suit because the State of Fl. has pension funds invested in Twitter, and the board is determined to fight with Musk and doesn’t seem to care about the well being of shareholders. Most of the board members make about $300K per year and I’m guessing they actually do very little, maybe take part in a teleconference a couple of times a month.
Incredible! Cannot believe who they have!
Several G👀gle peeps.
He’s a professional globalist.
A lot of them have ties to Google.
This is just like real estate: Location, Location, Location. Digitally or virtually they must be confronted.
Most are light weights, too shallow and prissy to engage in down and dirty. Look for resignations, early and frequent.
All extreme leftists/marxists that I’m betting are without an ounce of patriotism amongst all of them.
Musk will rise to my hero along side Davy Crockett if he fires all those bastards.
Once this is all over, we can start to chat about the stolen election again - yes?
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