Things are moving fast in the land of Twitter. A week ago, wealthy guy Elon Musk said he’d like to see some changes at Twitter. He then bought a 9.2 percent stake in the company, becoming the largest individual shareholder. He immediately started polling users about new features, seemingly getting approval from Twitter CEO Parag Agrawal.
And now, Musk is a member of Twitter’s Board of directors.
“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,” tweeted Agrawal on Tuesday.
“He’s both a passionate believer and intense critic of the service which is exactly what we need on @Twitter, and in the boardroom, to make us stronger in the long-term. Welcome Elon!”
Musk quickly responded to Agrawal’s tweet. “Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months,” he wrote.
The move, announced less than an hour ago, has already inspired thousands of memes, but despite the funny side of it, it’s an important move for Twitter, which has often been criticized for not moving fast enough. With Musk on board (literally and figuratively), things will probably start happening much faster at Twitter, though time will tell whether that’s a good or bad thing.
Twitter’s official website doesn’t yet list Musk as member of the Board, but this SEC filing confirms that it’s true. Notably, as member of the Board (and for 90 days after that), Musk is forbidden from buying more than 14.9 percent of Twitter stock.
