04:46 AM EDT, 04/04/2024 (MT Newswires) -- Twilio ( TWLO ) said late on Wednesday that it plans to seek shareholder approval at its upcoming annual meeting to declassify its board.

The company said directors elected at the 2025 annual meeting and, in subsequent years, will have one-year terms if approved.

"This change builds on the sunsetting of the company's dual-class share structure last year, and the separation of the chair and CEO roles earlier this year," Chair Jeff Epstein said in a company statement.

Separately, the company said its board will be reduced to nine directors when Byron Deeter retires at the shareholder meeting.