Twitter CEO Parag Agrawal took to the social media giant's platform early Tuesday, revealing that Elon Musk, who has purchased 9.2% of the San Francisco company's stock, will be joining the firm's board of directors.
SAN FRANCISCO — Twitter CEO Parag Agrawal took to the social media giant’s platform early Tuesday, revealing that Elon Musk, who has purchased 9.2% of the San Francisco company’s stock, will be joining the firm’s board of directors.
Musk’s filing did not disclose the purpose of the purchase or any plans for the company. But he has been a high-profile critic of Twitter policies in the past. Last month he said he was giving “serious thought” to creating a new social media platform. “I think he intends to go active and force change at Twitter,” said Dan Ives, tech analyst as Wedbush Securities. “This is a shot across the bow at Twitter’s board and management team to start discussions.”
He also agreed to have any of his future tweets that might contain material information about the company reviewed by other executives at Tesla before sending them. The SEC has questioned whether or not he is complying with that provision of the agreement, and Musk and the agency are fighting about that matter in court.Twitter founder Jack Dorsey stepped down as CEO last November in a sudden move without the kind of advance notice that typically is given with this type of leadership change.
He recently ran a Twitter poll asking his followers whether they believe Twitter rigorously adheres to the principle of free speech — 70% said no — and another poll asking whether its algorithms should be open source — 83% responded yes. Both polls attracted more than 1 million responses.
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