Tuesday, September 27, 2022

Twitter to appoint Elon Musk to company’s Board of Directors

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Twitter announced on Tuesday that Tesla CEO Elon Musk has been appointed to the company’s board of directors.
Twitter CEO Parag Agrawal made the announcement.

“I’m excited to share that we’re appointing @elonmusk to our board! Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board,” Agrawal said in a tweet.

“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! I’m excited to share that we’re appointing @elonmusk to our board! Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board,” Agrawal added.

In response, Musk tweeted he is “looking forward to working with Parag and Twitter board to make significant improvements to Twitter in coming months!”

Musk had announced a day before that he had purchased a 9% interest in the social networking company.

In a regulatory filing on Tuesday, Twitter announced it intends to add Elon Musk, the CEO of Tesla and SpaceX, to its board of directors for a term ending in 2024. According to CNN, Musk has promised not to buy more than 14.9 percent of the company’s stock while on the board of directors.

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