Elon Musk tells Twitter's board of directors, 'I'm looking forward to making significant improvements to Twitter with CEO Parag and others.'

by Steve Jurvetson

It turns out that Elon Musk, who has acquired 9.2% of Twitter's outstanding shares and is believed to be the largest shareholder, will become a director of Twitter. While Musk is the CEO of car maker Tesla and space venture company SpaceX, he is also known as a heavy user of Twitter.

Twitter CEO Parag Agrawal said, 'I am very pleased to announce that Elon Musk will be appointed to the board. Through the talks with Elon over the past few weeks, his addition as a board member will bring great value. It became clear. '

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.

— Parag Agrawal (@paraga) April 5, 2022

Twitter founder and former CEO Jack Dorsey also said, 'I'm really happy that Earon has joined Twitter's board of directors. He's pondering the world and Twitter's role in it. Parag and Earon also lead in the heart. It should be a great team to help me. '

I'm really happy Elon is 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. Https://t.co/T4rWEJFAes

— Jack ⚡️ (@jack) April 5, 2022

In response, Musk tweeted, 'We look forward to working with Parag and our board members to make significant improvements to Twitter in the coming months.'

Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!

— Elon Musk (@elonmusk) April 5, 2022

In addition, columnist Tim Carpan said that the appointment of a director was announced after it became clear that Mr. Musk had acquired 9.2% of the shares, 'It is as if Elon Musk was waiting for the acquisition of shares. I'm not always invited. '

Seems @paraga and @btaylor and @jack are “so excited” to have @elonmusk on @Twitter 's board that they waited for him to buy up 9.2% of its stock.
It's not like to they could have invited him to join at any time. ????

— Tim Culpan (@tculpan) April 5, 2022

Mr. Dorsey denies this point, 'I've long wanted to make Earon a board member.'

I've wanted Elon on the board for a long time

— Jack ⚡️ (@jack) April 5, 2022

According to the materials submitted to the US Securities and Exchange Commission, Mr. Musk's term of office is until 2024, and he will acquire 14.9% or more of the shares during his term and for 90 days after his retirement to become a substantial owner. There is no such thing.

CURRENT REPORT Pursuant to Section 13 or 15 (d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 4, 2022
https://www.sec.gov/ix?doc=0Archives/edgar/data/0001418091/000119312522095651/d342257d8k.htm