Former Twitter CEO Jack Dorsey criticized the company’s board in a series of tweets on Sunday as the group is now tasked with evaluating a takeover bid from billionaire Elon Musk. Responding to another Twitter user describing the “plots and coups” that played out early on in the history of Twitter’s board, Dorsey replied, “it’s consistently been the dysfunction of the company.” Elon Musk said Monday that Twitter’s board of directors won’t be compensated for serving if he acquires the company. “Board salary will be $0 if my bid succeeds, so that’s ~$3M/year saved right there,” Musk said in a tweet. It’s not clear who would be appointed to serve the board of a Musk-owned Twitter. Currently, Twitter spends about $2.9 million in cash and stock awards to board members, according to a filing with the SEC. Executives do not receive additional compensation for their seats, so that does not include payments for CEO Parag Agrawal and former chief Jack Dorsey. Rivian CEO R.J. Scaringe remains “really confident” it can produce 25,000 vehicles in 2022. That estimate is down from initial expectations of about 50,000 vehicles, slashed by supplier disruptions. Scarcity in semiconductor chips and wire harnesses poses the biggest hurdles for the company. Both are critical components in vehicles.
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