Elon Musk Parag Agrawal Twitter social CEO Elon Musk Parag Agrawal

Elon Musk to Join Twitter's Board After Becoming Its Largest Stakeholder

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Elon Musk is officially joining Twitter‘s board. The news comes a day after it was announced the Tesla CEO had purchased 9.2% of the social media company’s stock, making him the largest shareholder in the company. Click inside to read more… THR writes that in a securities filing on Tuesday (April 5), Twitter confirmed that Elon will be named to the board “as promptly as practicable,” and his term is set to expire at the 2024 annual meeting.

The letter agreement between the two parties has also limited the number of Twitter shares he can acquire, stating that “for so long as Mr. Musk is serving on the Board and for 90 days thereafter, Mr. Musk will not, either alone or as a member of a group, become the beneficial owner of more than 14.9 percent of Company’s common stock outstanding.” “I’m excited to share that we’re appointing [Musk] to our board!

Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board,” Twitter CEO Parag Agrawal said. “He’s both a passionate believer and intense critic of the service which is exactly what we need on Twitter, and in the boardroom, to make us stronger in the long-term.

Welcome Elon!” Elon echoed his sentiments in a tweet of his own, writing that he was looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!” The SpaceX founder has also been soliciting questions from users over the past few days, asking if they’d like the service to implement an edit button or had other changes they’d recommend Twitter make. Elon‘s role at Twitter comes after it was announced he would be stepping down from the board of another company.

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