Elon Musk to join Twitter board of directors

Elon Musk will join Twitter‘s board of directors, the social network’s chief executive has announced Tuesday, a day after the Tesla boss bought a major stake in the company and became its largest shareholder.
“I am excited to share that we are appointing @elonmusk to our board! Through conversations with Elon over the past few weeks, it became clear to us that he would bring tremendous value to our Board,” Twitter CEO Parag Agrawal said in a tweet.

He called Musk “a passionate believer and an intense critic of the service that is exactly what we need” at the company.

Currently, the world’s richest man and with more than 80 million followers on the microblogging platform, Musk on Monday disclosed the purchase of 73.5 million shares or 9.2 per cent of Twitter’s common stock.

The billionaire is a frequent user of the platform, regularly mixing incendiary and controversial statements about current affairs or other public figures with comments that range from whimsical to business-focused.

He has also repeatedly fallen out with federal securities regulators, who cracked down on his use of social media after an alleged effort to take Tesla private failed in 2018.

Musk has criticized Twitter for its approach to free speech, launching a poll last month asking whether the network adheres to the principle, to which the majority of respondents voted no.

Musk will remain on Twitter’s board until the company’s annual shareholder meeting in 2024, vowing not to take more than a 14.9 per cent stake in the company during that time, according to a securities document.