Musk won’t be able to buy more than 14.9% of the company’s stock while on the board.
Elon Musk will join Twitter’s board of directors after purchasing a 9.2% stake in the social media company and becoming its largest shareholder.
“I’m excited to share that we’re appointing [Elon Musk] to our board!” Twitter CEO Parag Agrawal said on Tuesday (April 5). “Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board,” he added.
“Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!” Musk responded.
Musk, who has criticized Twitter for “failing to adhere to free speech principles,” can reform the platform to his liking from his new position in the company.