Twitter Inc. board reached a deal to keep Egon Durban as a director after he failed to win a majority of shareholder support for a new term over concerns he sat on too many boards.

Mr. Durban, the co-chief executive of private-equity firm Silver Lake, tendered his resignation from the board of the social-media company after preliminary results of votes cast at Twitter annual meeting Wednesday had him falling short of the threshold needed to keep his seat.

This post first appeared on wsj.com

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