Elon Musk will not join Twitter Board: Twitter CEO
Twitter CEO Parag Agrawal said, the billionaire Elon Musk will not be a part of the microblogging site Twitter. The announcement came a week after Musk’s entry to the board of Twitter. “Elon Musk has decided not to join our board. I sent a brief note to the company, sharing with you all here,” said CEO Parag.
Agarwal said in a statement that he and the company’s board of directors had several discussions with Elon about joining the Twitter board. Elon Musk is the largest stakeholder on Twitter and if he would not join the board, then it will be a setback for the microblogging site. The board separately offered a seat to Musk, but he did not join.”
“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,” Parag Agrawal further said.
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As Elon Musk is the shareholder of Twitter, Twitter will always be open to Musk and will accept his contributions. As per reports, recently Musk purchased a 9.2 percent stake in Twitter, therefore he will be an essential part of Twitter’s journey, said, Paraga Agrawal- ANI.
On the other hand, joining the Twitter board would have prevented Elon Musk from owning more than 14.9 percent of the company. Moreover, Musk’s free-spirited tweets on controversial issues may lead Twitter to a catch-22 situation in the near future on whether or not to act on his tweets.