Looks like Elon Musk, who is Twitter’s biggest shareholder is no longer joining the board. The Twitter CEO also mentioned that he believes the decision is for the best.
Days after Tesla CEO and SpaceX founder Elon Musk became Twitter’s largest shareholder, Twitter announced that Musk will also be joining the board of directors. However, this doesn’t seem to be the case anymore. In a new tweet by Parag Agrawal, the Twitter CEO mentions that Musk has now declined from joining the company’s board.
The tweet includes a short note as well, though it does not give a clear reason as to why Musk is no longer joining the board. “Elon’s appointment to the board was to become officially effective 4/9, but Elon shared that same morning that he will no longer be joining the board,” Agrawal said in the tweet.
He added in the same post, “We also believed that having Elon as a fiduciary of the company where he, like all board members, has to act in the best interests of the company and all our shareholders, was the best path forward. The board offered him a seat. We announced on Tuesday that Elon would be appointed to the Board contingent on a background check and formal acceptance.”
“We have and will always value input from our shareholders whether they are on our Board or not. Elon is our biggest shareholder and we will remain open to his input,” he wrote.
Check out the full tweet below