Musk to Become Director of Twitter
According to media reports, Musk will serve on the board as a Class II director. This is a type of position that can be used as a measure to prevent a takeover of Twitter's assets.
“The Company will appoint Musk to the Company’s Board of Directors (“Board”) as a Class II director with a term of office ending at the company’s annual shareholder meeting in 2024,” the announcement explains.
It is emphasized that while Musk is in office, as well as within 90 days from the date of departure, he cannot, individually or as a member of the group, own more than 14.9% of the common shares of Twitter.
Twitter CEO Parag Agrawal confirmed Musk's appointment. According to the top manager, the entrepreneur will prove to be very useful for the development of Twitter.
Earlier, Musk launched a poll on his microblog about the possible addition of the ability to edit tweets. This option has not been available since the launch of the platform in 2006.
Before that, it became known that Musk became the richest man on the planet.