Nuked Twitter CEO Parag Agrawal has announced that Elon Musk is no longer going to join Twitter’s board. Parag Agrawal last week announced that Musk would be appointed to the board following his purchase of 9.2 percent of the company’s shares.
The appointment was to become officially effective 4/9, but Elon will no longer be joining the board. I believe this is for the best. 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 writes.
At the time that Musk’s purchase became public knowledge, his stake in Twitter was worth $ 2.89 billion.
The Tesla and SpaceX CEO has been publicly tweeting on his ideas for the company. He posted a poll for whether Twitter should have an edit button the day before the company confirmed that it would add the feature.
Elon Musk has decided not to join our board. Here’s what he can share about what happened. The news comes as he shares his thoughts on what happened.
The board and I had many discussions about Elon joining the board, and with Elon directly. We also believed that having Elon as a fiduciary of the company was the best path forward.
We announced on Tuesday that Elon would be appointed to the board. The appointment was to become officially effective 4/9. Elon shared that same day that he will no longer be joining the board.
