Image: The Street
Elon Musk joined the board of directors of Twitter after he acquired a 9.2% stake in Twitter and became the largest shareholder. Twitter CEO Parag Agrawal said Musk will bring great value to the social network's board of directors.
The day after it became known that Elon Musk had acquired a large stake in Twitter, it was announced that the CEO of Tesla and SpaceX was invited to the board of directors of the social network. On April 5, Twitter CEO Parag Agrawal announced in a tweet that Musk would be appointed to the company's board of directors.
"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"
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!— Parag Agrawal (@paraga) April 5, 2022
Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!— Elon Musk (@elonmusk) April 5, 2022
According to a regulatory filing with the Securities and Exchange Commission, Musk will serve on the board of directors for two years. During this time, he cannot own more than 14.9% of the company's shares.
© 2022, Eva Fox | Tesmanian. All rights reserved.
We appreciate your readership! Please share your thoughts in the comment section below.