In a significant development, Tesla and SpaceX CEO Elon Musk purchased a 9.2% stake in Twitter and became the largest shareholder of the microblogging website.
Twitter CEO Parag Agrawal on Tuesday welcomed Elon Musk to the company’s board. The Indian origin CEO believes that Musk will bring great value to the board. The Telsa CEO also plans to bring significant improvements to Twitter in the coming months.
“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,” Agrawal noted in the announcement tweet.
The Twitter CEO also added that Musk is a passionate believer and intense critic of the service and that is exactly what the company and the boardroom require.
“Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!” Musk said responding to Agrawal.
Former Twitter CEO Jack Dorsey also welcomed Musk to the company’s board. “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,” he noted in his tweet.