fbpx

Elon Musk not joining Twitter’s board

Almost a week after reports came out that Elon Musk bought over 9% stake on Twitter, the social media company announced that the Tesla and SpaceX CEO will not be joining its board.

The announcement came from Twitter CEO Parag Agrawal. In a tweet, Agrawala revealed that Musk’s appointment as part of the board was supposed to officially become effective on April 9, but on the same day, Musk decided that he will no longer be joining the board. An explanation was not provided, but according to Reuters, the planned appointment would have prevented Musk from owning more than 14.9% of Twitter’s common stock.

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

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 985 other subscribers

Leave a Reply
JOIN OUR TELEGRAM DISCUSSION

Your email address will not be published. Required fields are marked *