Twitter CEO Parag Agrawal said Tuesday that Elon Musk will serve on Twitter’s board after the billionaire became the largest shareholder Monday.
“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 announced.
“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,” he added. “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
Musk said in response he is “looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!” (RELATED: MOORE And PURNELL: Twitter Is Free To Make Bad Decisions, Like Suspending The Babylon Bee)
Musk will serve through 2024 as a Class II director on the board, CNBC reported, citing the SEC filing. While serving on the board as well as 90 days after his term expires, Musk cannot be the beneficial owner of more than 14.9% of Twitter’s common stock outstanding, according to the report.
Musk appears to already be seeking changes, tweeting a poll Monday on whether Twitter should add an edit button. Approximately 73% of voters voted “yes.”
Agrawal retweeted the poll asking voters to “vote carefully” because “the consequences of this poll will be important.”
Musk purchased a 9.2% stake in Twitter Inc., buying approximately 73.5 million shares, according to The Associated Press (AP). Musk has questioned whether Twitter “rigorously adheres to” the principle of “free speech,” to which a majority of poll voters said Twitter does not.