Elon Musk has decided not to join the board of Twitter, the company said on Sunday, after the Tesla CEO revealed that he is the social media company’s largest shareholder and offered him a seat. was done. But now he has decided not to participate.
Elon Musk Won’t Join Twitter Board
Musk’s appointment was supposed to be official on Saturday, but he told Twitter that he would not attend, Twitter CEO Parag Agrawal tweeted late on Sunday.
However, Parag Aggarwal has not given any reason for this matter. In his tweet, Agarwal said, “The Board and I have personally discussed joining the Board with Elon Musk. We were excited about the collaboration and clear on the risks. We announced on Tuesday that background checks and Musk will be appointed after formal approval. Elon Musk’s appointment was officially due on April 9, but that morning Elon Musk revealed that he would not be able to join the board. Allen is our big shareholder and his advice is always welcome Will happen.”
At the same time, soon after Agarwal’s announcement, Musk tweeted a face emoji with his hand on his mouth. He has not responded to a request for comment.
The Tesla and SpaceX CEO is an active Twitter user but has also become a critic of the platform in recent months.
Musk revealed last Monday that he has taken a 9.2% stake in Twitter and that the company has invited him to join the board, with both he and Agarwal saying they are looking forward to working together on the company’s future. look forward for.
Thus, after the news of Musk’s shareholding, Twitter’s shares saw a rise last week. As part of his agreement to join the board, Musk promised to increase his stake to no more than 14.9 percent.