Twitter CEO Parag Agrawal has announced in a message to the company’s employees that business mogul Elon Musk will no longer be joining the social media network’s board of directors.
Elon has decided not to join our board. I sent a brief note to the company, sharing with you all here. pic.twitter.com/lfrXACavvk
— Parag Agrawal (@paraga) April 11, 2022
Agrawal announced last week that Musk would be joining the tech giant’s board after he made a huge purchase of 9.2% of the company’s shares.
“We announced on Tuesday that Elon would be appointed to the Board contingent on a background check and formal acceptance,” Agrawal wrote.
“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,” he said.
According to The Verge, joining Twitter’s board would have prevented Musk from owning more than 14.9 percent of the company.
The Tesla and SpaceX CEO has been tweeting about new ideas for the company since Elon Musk was announced as Twitter’s largest single shareholder, including ideas about the long-anticipated edit button.
Do you want an edit button?
— Elon Musk (@elonmusk) April 5, 2022
It is, however, it is currently unclear if he was just trolling his followers the entire time.
— Elon Musk (@elonmusk) April 7, 2022
“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,” Agrawal wrote.
By Zintle Nkohla
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