Elon Musk not joining Twitter’s board

Virtually per week after reviews got here out that Elon Musk purchased over 9% stake on Twitter, the social media firm introduced that the Tesla and SpaceX CEO will not be joining its board.

The announcement got here from Twitter CEO Parag Agrawal. In a tweet, Agrawala revealed that Musk’s appointment as a part of the board was imagined to formally change into efficient on April 9, however on the identical day, Musk determined that he’ll not be joining the board. An evidence was not supplied, however in accordance with Reuters, the deliberate appointment would have prevented Musk from proudly owning greater than 14.9% of Twitter’s widespread inventory.

“I believe this is for the best,” Agrawal stated. “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.”

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