After a public exchange over Elon Musk’s poll on Twitter over the awaited ‘edit’ button, Twitter CEO Parag Agrawal has jow formally welcomed the American billionaire to the company board. “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,” he wrote on the social media platform.
In response, Elon Musk responded that he was excited to make significant improvement to Twitter in the coming months.
Agrawal’s tweet came after the news of Elon Musk buying a 9.2% stake in Twitter Inc came. Musk had been hinting at building an alternative to Twitter which serves as ‘the de facto public town square’. While many people replying to Musk’s tweets expressed that the platform has failed to adhere to free speech principles, Musk further asked whether an alternative platform was needed in his exchange on March 25.
On the 4th of April, the news of Elon Musk becoming the largest shareholder in Twitter came. The share price of the Twitter stock rose about 28% in pre-market trading on the day. With his USD 3 Billion stake, Musk contributed 20% of Twitter’s network on his very first day. On Tuesday, CEO Paraga Agrawal said on Musk’s induction, “He’s both a passionate believer and intense critic of the service which is exactly what we need on Twitter, and in the boardroom, to make us stronger in the long-term. Welcome, Elon!”.
The Tesla Motors CEO has often been critical of Twitter and has made his stand unapologetically through his tweets. In December last year, when Twitter announced that Parag Agrawal would be taking over from Jack Dorsey as the company’s CEO, Musk had posted a cryptic meme that depicted Agrawal as Soviet dictator Joseph Stalin and Dorsey as Soviet secret police head Nikolai Yezhov being shoved into the water.
Freelance journalist Walter Bloomberg has noted that Musk will likely be appointed as a ‘Class II Director’ to serve on the Company’s board.