July 6, 2022

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Muskification of Twitter continues: Elon Musk joins Board of administrators

Issues are shifting quick within the land of Twitter. Per week in the past, rich man Elon Musk stated he’d wish to see some changes at Twitter. He then purchased a 9.2 p.c stake within the firm, changing into the biggest particular person shareholder. He instantly began polling customers about new options, seemingly getting approval from Twitter CEO Parag Agrawal.

And now, Musk is a member of Twitter’s Board of administrators.

“I’m excited to share that we’re appointing @elonmusk to our board! Via conversations with Elon in current weeks, it turned clear to us that he would deliver nice worth to our Board,” tweeted Agrawal on Tuesday.

“He’s each a passionate believer and intense critic of the service which is strictly what we’d like on @Twitter, and within the boardroom, to make us stronger within the long-term. Welcome Elon!”

Musk quickly responded to Agrawal’s tweet. “Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months,” he wrote.

The transfer, introduced lower than an hour in the past, has already impressed thousands of memes, however regardless of the humorous facet of it, it is an essential transfer for Twitter, which has usually been criticized for not shifting quick sufficient. With Musk on board (actually and figuratively), issues will in all probability begin occurring a lot sooner at Twitter, although time will inform whether or not that is a very good or unhealthy factor.

Twitter’s official web site does not but checklist Musk as member of the Board, however this SEC submitting confirms that it’s true. Notably, as member of the Board (and for 90 days after that), Musk is forbidden from shopping for greater than 14.9 p.c of Twitter inventory.

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