Twitter Inc said in a regulatory filing on Tuesday its top shareholder and Tesla boss Elon Musk will be appointed to the company’s board.
Twitter said that it entered into an agreement with Musk on Monday that will give the billionaire a seat on its board, with the term expiring at its 2024 annual shareholders meeting.
“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 said in a tweet.
He called Musk “a passionate believer and intense critic of the service which 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 a purchase of 73.5 million shares or 9.2 percent of Twitter’s common stock.
The billionaire is a frequent user of the platform, regularly mixing in inflammatory and controversial statements about current affairs or other public figures with remarks that range from whimsical to business-focused.
(With inputs from agencies)