Elon Musk will not join Twitter board despite being company’s biggest shareholder

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Musk was welcomed to the board on Tuesday after his investment in the company was announced. However, Twitter’s CEO Parag Agrawal tweeted on Monday morning: “Elon has decided not to join our board.

“I sent a brief note to the company, sharing with you all here.”

The note read: “Elon Musk has decided not to join our board. 

“Here’s what I can share about what happened.

“The Board and I had many discussions about Elon joining the board, and with Elon directly.

“We were excited to collaborate and clear about the risks.

“We also believed that having Elon as a fiduciary of the company where he, like all board members, has to act in the best interest of the company and our shareholders, was the best path forward.

“The board offered him a seat.”

He continued: “We announced on Tuesday that Elon would be appointed to the Board contingent on a background check and formal acceptance.

“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.”

He added: “Elon is our biggest shareholder, and we will remain open to his input.

“There will be difficulties 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.”

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