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Might 27 (Reuters) – Twitter Inc (TWTR.N) mentioned in a submitting on Friday it could not settle for Egon Durban’s resignation from the board, two days after shareholders blocked his re-election at an annual assembly.
Durban is an ally of Elon Musk, who has provided to take Twitter non-public in a $44 billion deal. learn extra
Twitter mentioned Durban did not obtain the help of a majority of the votes within the re-election held earlier this week resulting from “voting insurance policies of sure institutional buyers relating to board service limitations”.
Durban, who serves on the boards of six different corporations, has agreed to cut back his board service commitments to not more than 5 public firm boards by Might 25, 2023, Twitter mentioned.
Silver Lake Companions, the place Durban is co-CEO, helped put collectively Musk’s $44 billion acquisition of Twitter, in accordance a submitting.
Reporting by Nivedita Balu in Bengaluru; Modifying by Krishna Chandra Eluri and Shounak Dasgupta
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