New Delhi:
Elon Musk, the founder of the giant auto brand Tesla has decided to not join the Twitter board, said Parag Agrawal,
the chief executive officer of Twitter,
in a statement on Twitter.
Agrawal revealed that Musk will remain the largest shareholder of the company of Twitter and the company will remain open to the billionaire businessman’s input.
“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 bests interests of the company and all our shareholders, was the best path forward,” said Agarwal.
Agrawal said that the Twitter board had offered him Musk a seat as was announced on Tuesday.
“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. Elon is our biggest shareholders and we will remain open to his input.”
Agrawal had announced that Twitter was welcoming Musk on the company’s board last week.
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