Twilio to seek shareholder approval for new board director terms

FILE PHOTO: Twilio logo is seen near computer motherboard in this illustration taken January 8, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - Cloud communications company Twilio said on Wednesday it will seek shareholder approval at its upcoming annual meeting to change its board director terms to one year from three.

If Twilio gets shareholder approval for the declassification of board, directors elected at the 2025 annual meeting and thereafter will be elected to one-year terms, the company said in a statement.