Tesla CEO Elon Musk: Tesla CEO Elon Musk is not going to join the board of Twitter. Microblogging site CEO Parag Agrawal has confirmed this on Monday, April 11.
The US billionaire recently bought a 9.2 percent stake in Twitter and later announced that he would join the platform’s board. Elon Musk was supposed to join Twitter’s board on April 9, but the same day he said he would not be able to do so. Parag Aggarwal has confirmed this by issuing a statement on the microblogging site.
Parag Agrawal gave this statement
In a tweet, Aggarwal said, “There have been several discussions between the board and me regarding the inclusion of Elon on the board. Also had a direct conversation with Allon. We were very excited to collaborate with them and we were aware of the risks involved. We also believed that Elon, like other board members, had to act in the best interest of the company and all of our shareholders. He was to be attached to the company as a subsidiary.”
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
Will continue to get inputs from Elon even further: Agarwal
“We announced on Tuesday that Elon would be appointed to the board after a background check and formal approval. His appointment was to take effect on April 9, but Allon informed the same morning that he would not be able to join the board.” “We have been getting advice from our shareholders and will continue to get advice whether they are on our board or not,” Agarwal said. Allen is Twitter’s largest shareholder and will continue to receive input from him.
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Agarwal said, “We ourselves take decisions and implement them, no one else. Let’s end the discussions and focus on work.”
Musk has a 9.2 percent stake in Twitter
Elon Musk, the world’s richest person and owner of companies like Tesla and SpaceX, recently bought a 9.2 percent stake in Twitter. Twitter had told that Elon Musk has bought a passive stake in Twitter through one of his trusts. Passive stake means that the shareholder does not interfere in the day-to-day functioning of the company and invests only keeping in mind the long-term benefits of the shares.