Elon Musk decides not to join Twitter board

Elon Musk won’t be joining the Twitter board. This news comes a week after Elon Musk disclosed his majority stake in the micro-blogging platform. Twitter CEO Parag Agarwal made the announcement via his official Twitter handle. In a tweet, he said that Elon has decided not to join the Twitter board.

Agarwal also shared a note disclosing the reasons behind the move. He also expressed what he felt about Musk’s decision of not joining the company board.

Narrating the lead-up to the decision, Agarwal stated, “The Board and I had many discussions about Elon joining the board, and with Elon directly. We were excited to collaborate and clear about the risks. 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.”

He further added, “We announced on Tuesday that Elon would be appointed to the Board contingent on a background check and formal acceptance. 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. 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.”

Agarwal emphasized that Twitter will continue to work towards its priorities despite all the “distractions ahead”.  He added, “There will be distractions ahead, but our goals and priorities remain unchanged. The decisions we make and how we execute is in our hands, no one else’s. Let’s tune out the noise, and stay focused on the work and what we’re building.”

Faqs

Billionaire Elon Musk’s reversal of his decision to join Twitter’s board opens the door to a hostile takeover and could lead to additional volatility in the stock, according to analysts. Musk’s decision not to join Twitter’s board means he’s no longer limited to owning just 14.9 percent of the company.23 hours ago

Elon Musk, the world’s wealthiest man and the biggest shareholder of Twitter, will no longer join the social media service’s board of directors, the company said late Sunday. The move capped a whirlwind week at Twitter that had been set off by Mr. Musk, 50.1 day ago

Billionaire Elon Musk’s reversal of his decision to join Twitter’s board opens the door to a hostile takeover and could lead to additional volatility in the stock, according to analysts. Musk’s decision not to join Twitter’s board means he’s no longer limited to owning just 14.9 percent of the company.23 hours ago

Shares were up less than 1% on Monday. As part of his agreement to join the board, Musk had promised not to increase his stake to more than 14.9%. But his decision not to join frees him from that limit, according to an updated SEC filing on Monday.1 day ago

Elon Musk, the world’s wealthiest man and the biggest shareholder of Twitter, will no longer join the social media service’s board of directors, the company said late Sunday. The move capped a whirlwind week at Twitter that had been set off by Mr. Musk, 50.1 day ago

Conclusion

Elon Musk won’t be joining the Twitter board. This news comes a week after Elon Musk disclosed his majority stake in the micro-blogging platform. Twitter CEO Parag Agarwal made the announcement via his official Twitter handle. In a tweet, he said that Elon has decided not to join the