Elon Musk Joins Twitter Board

Elon Musk is joining the board of Twitter.

The company disclosed the news in a securities filing on Tuesday, one day after Mr. Musk said he had a 9.2 percent stake in the social media giant, a purchase that appeared to make him its largest shareholder. The news sent Twitter’s shares skyrocketing more than 20 percent.

Mr. Musk had been mum on his intentions. He registered with a securities document called a 13G filing, indicating that he planned for the investment to be passive and that he did not intend to pursue a larger role in the company. It was not immediately clear how he obtained the Twitter board seat and whether doing so was a matter of pursuing control.

Jack Dorsey, Twitter’s co-founder, stepped down as its chief executive in November and plans to leave the company’s board when his term ends this year.

Article source: https://www.nytimes.com/2022/04/04/business/twitter-musk-directors.html