Elon Musk is set to join Twitter's board of directors, a day after he acquired 9.2% stake at the firm making him largest individual shareholder.
Twitter on Tuesday said that it plans to appoint the Tesla and SpaceX CEO to its board for a term that ends in 2024.
According to the regulatory filling,Musk has agreed not to acquire more than 14.9% of the company's shares while he remains on the board.
"I'm excited to share that we're appointing @elonmusk to our board!" Twitter CEO Parag Agrawal said in a tweet Tuesday.
"Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board."
The firm's boss further noted that Musk is both a "passionate believer" and an "intense critic" of the company, and that he believed Musk's presence in the boardroom would add long-term value.
Reacting to the news, Musk said he is "looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!
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