Twitter Appoints Top Shareholder Musk To Its Board Day After Tesla CEO Discloses 9.2% Stake in Co


Elon Musk maintain 9.2% stakes in Twitter

Musk will function a Class II director, with the time period expiring at Twitter’s 2024 annual assembly of stockholders

Twitter Inc on Tuesday stated it’s appointing its high shareholder and Tesla CEO Elon Musk to its board, a day after the billionaire disclosed his 9.2 per cent stake within the microblogging web site. Musk will function a Class II director, with the time period expiring at Twitter’s 2024 annual assembly of stockholders.

Twitter CEO stated in a tweet, “I’m excited to share that we’re appointing @elonmusk to our board! Through conversations with Elon in current weeks, it turned clear to us that he would convey nice worth to our Board.”

He added that Musk is 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!”

In the reply to the Musk tweet, Elon Musk said, “Looking ahead to working with Parag & Twitter board to make vital enhancements to Twitter in coming months!”

Twitter shares surged 6% in trading before the opening bell, after closing up over 27% on Monday.

On Monday, Tesla and SpaceX CEO Elon Musk disclosed his passive stake of 9.2 per cent in the micro blogging platform, according to a US SEC (Securities and Exchange Commission) filing on Monday. In the filing, Twitter Inc also disclosed that Elon Musk owns Twitter shares numbering to 73,486,938 as shares of common stock in his personal capacity.

Read all of the Latest News , Breaking News and IPL 2022 Live Updates right here.





Source hyperlink

Leave a Reply

Your email address will not be published.