San Francisco/New Delhi: Indian-origin Twitter CEO Parag Agrawal announced that the micro-blogging platform has appointed Tesla and SpaceX CEO Elon Musk to its board of directors.
Musk, who acquired 9.2 per cent share in the micro-blogging platform for nearly $3 billion, is limited from buying more than 15 percent of Twitter’s stock.
“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,” Agrawal posted.
Musk replied to Agrawal: “Looking forward to working with the Parag & Twitter board to make significant improvements to Twitter in coming months!”
According to a fresh filing with the US Securities and Exchange Commission (SEC), Musk will serve as a class II director until 2024.
This is a type of position that can be used as an anti-takeover measure.
