Twitter Announces Elon Musk To Join Board Of Directors

Elon Musk will stay on Twitter’s board till firm’s annual shareholder’s assembly in 2024

New York:

Elon Musk will be part of Twitter’s board of administrators, the social community’s chief govt introduced Tuesday, a day after the Tesla boss purchased a significant stake within the firm and have become its largest shareholder.

“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,” Twitter CEO Parag Agrawal stated in a tweet .

He known as Musk “a passionate believer and intense critic of the service which is exactly what we need” on the firm.

Currently the world’s richest man and with greater than 80 million followers on the microblogging platform, Musk on Monday disclosed a purchase order of 73.5 million shares or 9.2 p.c of Twitter’s frequent inventory.

The billionaire is a frequent person of the platform, frequently mixing in inflammatory and controversial statements about present affairs or different public figures with remarks that vary from whimsical to business-focused.

He has additionally sparred repeatedly with federal securities regulators, who cracked down on his social media use after a purported effort to take Tesla non-public in 2018 fell aside.

Musk has criticized Twitter for its strategy to freedom of speech, launching a ballot final month during which he requested if the community adheres to the precept — to which a majority of the voted no.

Musk will stay on Twitter’s board till the corporate’s annual shareholder’s assembly in 2024, and he has promised to not take a stake bigger than 14.9 p.c within the firm throughout that point, in keeping with a securities submitting.

(This story has not been edited by NDTV employees and is auto-generated from a syndicated feed.)

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