Elon has decided not to join our board. I sent a brief note to the company, sharing it with you all here, “the Twitter CEO posted, sharing his note.
Elon Musk, the CEO of Tesla, and SpaceX joined Twitter’s board of directors only days after becoming the company’s largest shareholder. However, this does not appear to be the case now. In a fresh post, Twitter CEO Mr. Parag Agrawal said that Musk has denied joining the company’s board of directors, “Elon has decided not to join our board.” I sent a brief note to the company, sharing it with you all here.
As Mr. Agrawal stated, the company had many discussions with Elon Musk over joining the board. Elon’s appointment to the board was to become officially effective on 4/9, but Elon shared that he would no longer be joining the board. I believe this is for the best, “Parag wrote.
The CEO also added in the same post, “We were excited to collaborate and clear about the risks.” We also believed that Elon, as a fiduciary of the company where he, like all board members, must act in the best interest of the company and all our shareholders, was the best path forward. The board offered him a seat.
“We have and will always value input from our shareholders, whether they are on our board or not.” “Mr. Musk is our biggest shareholder, and we will remain open to his input,” Mr. Agrawal wrote, and stated that there will be “distractions ahead, but our goals and priorities remain unchanged.” “The decisions we make and how we execute them are in our hands, no one else’s. Let’s tune out the noise and stay focused on the work and what we’re building.
On April 5, Parag Agrawal announced that Elon was all set to enter the board and that “he would bring great value”.
The news that Musk would not be joining the board of the micro-blogging site came in the wake of great hopes and discussion over how his involvement might affect the Twitter ecosystem, mainly given his recent tweets that played with the concept of radical changes.
In one of his tweets, Elon Musk started a poll on whether the San Francisco (SF) headquarters of Twitter should be converted to a shelter for the homeless. He also said that Twitter must not allow ads, as that would give power to corporations to dictate terms. Based on the checkmark for Twitter Blue users, Musk also added, “it should be different from the “public figure” or “official account” checkmark.”
(Source: NDTV, Indian Express)