Twitter to name top shareholder Musk to board

Twitter Inc said on Tuesday it would name top shareholder and Tesla boss Elon Musk to its board, a day after the billionaire disclosed a 9.2% stake in the social media company.

Musk will serve as a Class II director, with the term expiring at Twitter's 2024 annual meeting of stockholders. Twitter shares surged 6% in trading before the opening bell, after closing up over 27% on Monday.