A day after Tesla CEO Elon Musk bought a major stake in the company and became its largest shareholder, the social network's chief executive Parag Agrawal made the announcement of Musk joining Twitter's board of directors.
Twitter executives tweeted out congratulations after the announcement.
"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.
"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!" Agrawal said in a follow-up tweet.
Moments after the announcement, the Tesla chief also responded.
"Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!" Musk tweeted.
Former Twitter CEO Jack Dorsey also joined in the conversation.
"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," Dorsey wrote on Twitter.
Musk reported in a regulatory filing on Monday that he had amassed a roughly 9% stake in Twitter, making him its largest shareholder.
After taking a seat on the social media company’s board, Elon Musk refiled the disclosure of his stake in Twitter Inc. to classify himself as an active investor, making the change.He filed a form 13D with the U.S. Securities and Exchange Commission on Tuesday, disclosing a stake of 9.1%. The new filing indicates that Musk plans to take an active role in shaping Twitter’s agenda. The form he used on Monday, a 13G, is reserved for investors who plan to be passive.
