Elon Musk to join Twitter board of directors
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New York: Twitter announced that Elon Musk, the head of Tesla Inc., will join its board of directors. The announcement comes a day after Musk bought the largest stake in the social media platform, Agence France-Presse.
Twitter CEO Parag Agrawal tweeted that Musk could bring tremendous value to their board. He said that Musk is a passionate believer and a strong critic, adding that that is what the company needed.
The world's richest man, Musk had bought a 9.2 per cent stake, that is 73.5 million shares, of Twitter's common stock. Musk is also active in the platform, issuing opinions on current affairs, which usually gather great mileage and at times become controversial too.
He had repeatedly battled with federal securities regulators over his activities on the platform.
But, Musk had harshly criticised Twitter on its approach to freedom of speech before. He had launched a poll last month asking whether the platform adheres to freedom of speech, and the majority voted negative.
However, Musk is to remain on Twitter's board till the 2024 company annual meeting. He has promised that he will not take a stake larger than 14.9 per cent in the company during the period.