{"id":453921,"date":"2022-05-27T19:43:18","date_gmt":"2022-05-27T16:43:18","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/musk-ally-egon-durban-keeps-twitter-board-seat-despite-shareholder-vote\/"},"modified":"2022-05-27T19:43:18","modified_gmt":"2022-05-27T16:43:18","slug":"musk-ally-egon-durban-keeps-twitter-board-seat-despite-shareholder-vote","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/musk-ally-egon-durban-keeps-twitter-board-seat-despite-shareholder-vote\/","title":{"rendered":"#Musk ally Egon Durban keeps Twitter board seat despite shareholder vote"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a40c6eccdb93\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a40c6eccdb93\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/musk-ally-egon-durban-keeps-twitter-board-seat-despite-shareholder-vote\/#%E2%80%9CMusk_ally_Egon_Durban_keeps_Twitter_board_seat_despite_shareholder_vote%E2%80%9D\" >&#8220;Musk ally Egon Durban keeps Twitter board seat despite shareholder vote&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CMusk_ally_Egon_Durban_keeps_Twitter_board_seat_despite_shareholder_vote%E2%80%9D\"><\/span>&#8220;Musk ally Egon Durban keeps Twitter board seat despite shareholder vote&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p><a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> director and Elon Musk ally Egon Durban will keep his seat on the company\u2019s board \u2013 even after shareholders voted to oust him, the social-media giant revealed Friday.<\/p>\n<p>Shareholders rejected Durban\u2019s re-election to the board at the company\u2019s annual meeting earlier this week in what some viewed as a potential snub of Musk. Durban, a top boss at private equity giant Silver Lake, was linked to Musk\u2019s past effort to take Tesla private in 2018.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/ix?doc=\/Archives\/edgar\/data\/1418091\/000119312522161795\/d340224d8k.htm\">Twitter said in an SEC filing<\/a> that Durban\u2019s nomination was likely rejected because he sits on the board of six other publicly traded companies. The filing did not mention Durban\u2019s association with Musk.<\/p>\n<p>\u201cWhile the Board does not believe that Mr.\u00a0Durban\u2019s other public company directorships will become an impediment if such engagements were to continue, Mr.\u00a0Durban\u2019s commitment to reduce his board service commitment to five public company boards by the Remediation Date <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ropriately addresses the concerns raised by stockholders with regard to such engagements,\u201d Twitter\u2019s SEC filing said.<\/p>\n<p>\u201cAccordingly, the Board has reached the determination that accepting Mr.\u00a0Durban\u2019s Tendered Resignation at this time is not in the best interests of the Company,\u201d the filing added.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/elon-musk-76-3.jpg?w=1024\" alt=\"Elon Musk\" class=\"wp-image-22438281\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/elon-musk-76-3.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/elon-musk-76-3.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/elon-musk-76-3.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Elon Musk is locked in buyout talks with Twitter\u2019s board.<\/figcaption><figcaption><span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>Twitter added in its filing that it came to the decision to retain Durban independently as he did not participate in the board\u2019s discussions on whether to accept his resignation.<\/p>\n<p>The company said its board considers Durban \u201ca highly effective member and believes that he brings to the Board an unparalleled operational knowledge of the industry, a unique perspective, and an invaluable skill set and experience with mergers and acquisitions.\u201d<\/p>\n<p>The board\u2019s decision to retain Durban occurred as the company attempts to salvage negotiations with Musk. The billionaire originally offered to buy Twitter for $54.20 per share, but has since expressed reticence about the deal due to concerns about spam bots within its active user base.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/twitter-03-3.jpg?w=1024\" alt=\"Twitter headquarters\" class=\"wp-image-22438282\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/twitter-03-3.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/twitter-03-3.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/twitter-03-3.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Twitter has paused hiring during buyout talks with Elon Musk.<\/figcaption><figcaption><span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>Twitter shares rallied earlier this week after Musk committed another $6.25 billion in equity financing toward his\u00a0$44 billion offer for Twitter \u2013 a sign the deal could still move forward despite last-minute hurdles.<\/p>\n<p>Meanwhile, Twitter has taken steps to streamline its operations and limit expenses during the buyout talks. Several top executives have departed the company this month.<\/p>\n<p>The social media firm has also paused hiring during the negotiations and even rescinded some job offers already extended to candidates.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/05\/27\/musk-ally-egon-durban-keeps-twitter-board-seat-despite-shareholder-vote\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Musk ally Egon Durban keeps Twitter board seat despite shareholder vote&#8221; Twitter director and Elon Musk ally Egon Durban will keep his seat on the company\u2019s board \u2013 even after shareholders voted to oust him, the social-media giant revealed Friday. Shareholders rejected Durban\u2019s re-election to the board at the company\u2019s annual meeting earlier this week&#8230;<\/p>\n","protected":false},"author":1,"featured_media":453922,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/Egon-Durban-51.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[129681,126882,72645,39394,10401],"class_list":["post-453921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-5-27-22","tag-board","tag-corporate-governance","tag-elon-musk","tag-twitter"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/453921","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=453921"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/453921\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/453922"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=453921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=453921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=453921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}