Twitter CEO Parag Agrawal welcomes Elon Musk to company's board; says he will add great value

Chennai: Parag Agrawal, CEO of the microblogging platform Twitter on Tuesday welcomed Tesla Inc top executive Elon Musk on its board, a day after Musk disclosed a 9.2% stake in Twitter.

"I'm excited to share that we're appointing Elon Musk 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 tweeted.



He went on to add that Musk is a passionate believer and intense critic of the service which he said was exactly what Twitter needed. Musk on his part responded to Agrawal's tweets by saying that he looked forward to working with Parag and Twitter to make "significant improvements" on the platform in the coming months.

Co-founder and former CEO of Twitter Jack Dorsey too tweeted about how he was happy about Musk joining the Twitter board! "He cares deeply about our world and Twitter’s role in it. Parag and Elon both lead with their hearts, and they will be an incredible team," Dorsey said in his tweet.


Twitter in an SEC filing on Tuesday said that it had appointed Elon Musk to the Company’s Board of Directors to serve as a Class II director with a term expiring at the Company’s 2024 Annual Meeting of Stockholders. It also said that for so long as Musk is on the Board and for 90 days thereafter, he will not, either alone or as a member of a group, become the beneficial owner of more than 14.9% of the company's common stock outstanding at such time, including for these purposes economic exposure through derivative securities, swaps, or hedging transactions.

Earlier on Tuesday morning, Musk had started a Twitter poll asking users if they wanted the microblogging platform to have an edit button. Responding to the poll, Agrawal urged users to vote carefully as he said the consequences of the poll would be important.