Elon Musk will not join the Twitter board. The news comes a week after Elon Musk disclosed his majority stake in the micro-blogging platform. Twitter CEO Parag Agarwal made this announcement through his official Twitter handle. In a tweet, he said that Elon has decided not to join the Twitter board.
Agarwal also shared a note revealing the reasons behind the move. He also expressed how he felt about Musk’s decision not to join the company’s board.
Describing the lead-up to the decision, Agarwal said, “The board and I had several discussions about Elon joining the board and directly with Elon. We were excited to collaborate and clarify the risks involved.” We also believed that keeping Elon as a subsidiary of the Company, where he, like all board members, has to act in the best interest of the company and all of our shareholders, was the best way forward. He was offered a seat.
He continued, “We announced on Tuesday that Elon would be appointed to the board’s team upon background checks and formal approval. Elon’s appointment to the board was to officially take effect from 4/9, but Elon shared the same morning He will no longer be on the board. I believe it is for the best. We always value the input of our shareholders, whether they are on our board or not. Elon is our largest shareholder and we appreciate his Will be open for input.
Agarwal emphasized that Twitter will continue to work towards its priorities despite all the “going forward”. He continued, “There will be distractions ahead, but our goals and priorities remain unchanged. The decisions we make and the way we execute are in our hands, not anyone else’s. Let’s reduce the noise, And focus on the work and what we’re building.”
Elon Musk’s post will no longer be part of the Twitter board that appeared earlier on BGR India.