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April 5, 2022 10:40 pm

Elon Musk To Join Twitter's Board of Directors, Teases 'Significant Improvements'

Elon Musk will join Twitter's board of directors after taking a 9.2% stake in the social media company. CNBC reports: "Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board," CEO Parag 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," Agrawal added. Former chief Jack Dorsey praised the move, saying in a tweet that Musk "cares deeply about our world and Twitter's role in it." "I've wanted Elon on the board for a long time," Dorsey later added. Musk's term is set to expire in 2024, according to a filing with the SEC. For his entire board term or 90 days after, Musk cannot be the beneficial owner of more than 14.9% of the company's common stock outstanding. [...] After he was named to the board, Musk on Tuesday teased he would push for adjustments to the product. "Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!" Musk said in a tweet.

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