Twitter Shareholders Expel Musk's Business Partner from Board of Directors

[Asia Economy New York=Special Correspondent Joselgina] Shareholders of social media platform Twitter, which is set to be acquired by Elon Musk, CEO of Tesla, have ousted Musk's business partner from the board of directors.

Economic media outlet CNBC reported that Twitter shareholders voted at the annual general meeting held on the 25th (local time) to remove Egon Durban, co-CEO of private equity firm Silver Lake, from the board. Durban failed to secure enough votes for re-election to the board at the meeting.

This development has drawn particular attention as it occurred after Musk agreed to acquire Twitter for $44 billion. A Twitter spokesperson confirmed, that Durban submitted his resignation to the board in accordance with regulations, and that the resignation would take effect only after the board accepts it. He also stated that the board committee would promptly review whether to recommend acceptance of the resignation to the board.

Durban is a long-time business partner and supporter of Musk through Silver Lake. Before Musk's company Tesla was acquired, Silver Lake had invested $100 million in his solar energy business, SolarCity.