Elon Musk, a multibillionaire, declared in a filing on Monday that he will be the chief executive officer of Twitter, the social media platform he just paid $44 billion for.

Previously on Monday, Musk also dissolved Twitter’s board of directors. According to an SEC filing, he is now Twitter’s only director.

The action follows Musk’s last week firing of Twitter CEO Parag Agrawal and other top company executives. Musk also owns Tesla and SpaceX.

Also read: Elon Musk dissolves Twitter’s board of directors

Musk previously hinted at this move by changing his Twitter bio to read “Chief Twit.”

A lengthy saga came to an end last week with Musk’s $44 billion acquisition of the social networking firm.

Since then, Musk has moved swiftly to start implementing reforms at the business, which he has long derided for being reluctant to roll out new products or delete spam accounts.

He is considering reducing positions and changing Twitter’s verification procedure.

Also read: Elon Musk’s Twitter may lay off 25% of employees: Report

The first round of layoffs, which may affect 25% of the company’s staff, is reportedly being discussed. Top executives have already been let go as Musk hires well-known partners for the company.

He solicited opinions on a number of topics, such as the vine comeback and advertising, using the social media site.

He also asked how much people would pay to get verified in light of claims that Twitter may charge users $20 per month to keep the blue ticks that represent verified accounts.

Also read: Elon Musk’s Twitter may make users pay for blue tick

According to two people with knowledge of the situation, Musk’s teams started having meetings with some employees to look at the software code of Twitter and learn how various components of the site operated, a Reuters report stated.

Some employees claimed they had minimal contact with Musk or other executives and were making sense of the business through news stories, the Reuters report added.