Elon Musk, the CEO of Tesla and SpaceX, has joined Twitter’s board of directors, only days after becoming the company’s largest shareholder. This does not appear to be the situation any longer. Musk has declined to join the board of directors, according to a new post from Twitter CEO Parag Agrawal.
Musk’s tweet also includes a brief comment, however, it does not specify why he is no longer joining the board of directors. “Elon’s appointment to the board was set to take effect on 4/9, but Elon announced that same morning that he would no longer be joining the board,” Agrawal wrote in the tweet.
Elon Musk was offered a seat by the board
“We also believed that having Elon Musk as a fiduciary of the company, where he, like all board members, is required to act in the best interests of the company and all of our shareholders, was the best road ahead,” he continued in the same post. He was offered a seat by the board. Elon was named to the Board of Directors on Tuesday, subject to a background check and formal acceptance.”
“Whether or not our stockholders are on our Board, we value their opinion and will continue to do so. “We will remain receptive to Elon’s advice because he is our largest shareholder,” he added.