Elon Musk Declines Board Seat, Twitter CEO Parag Agrawal Shares
2022.04.11 18:37
Elon Musk Declines Board Seat, Twitter CEO Parag Agrawal Shares
- Elon Musk rejects the offer to join the Twitter (NYSE:TWTR) board of members.
- Twitter CEO Parag Agrawal posted a brief note on this news.
- Earlier, Elon was appointed as one of the board members, after he gained the largest stake in Twitter.
After the radical talks over Elon Musk’s entry to the Twitter board of members, the Tesla (NASDAQ:TSLA) boss has decided not to join the Twitter team. Twitter CEO Parag Agrawal tweeted the news and shared a brief note sent to the company.
ICYMI: Elon Musk has suggested that Twitter Blue should accept #Dogecoin as a payment method.
— Watcher.Guru (@WatcherGuru) April 10, 2022
The post read that the Board and Twitter CEO had many discussions about Elon joining the board, and with Elon directly. Also, the board is excited to collaborate and be clear about the risks.
The post further read: “We also believed that having Elon as a fiduciary of the company where he, like all board members has to act in the best interests of the company and all our shareholders, was the best path forward. The board offered him a seat.”
Furthermore, the board announced on Tuesday that Elon would be appointed to the team based on a background check and formal acceptance. Although his appointment was to be officially effective, Elon shared that same morning that he will no longer be joining the board.
Agrawal also said that amid the distractions, the team’s “goals and priorities” remain unchanged. Also, the decisions they make and execute are in their hands, and he finally remarked, “Let’s tune out the noise, and stay focused on the work”.
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
Elon Musk has been in the news headlines, following the credit of being the largest Twitter shareholder with a 9.2% stake and his appointment to the social media platform. Subsequently, he said that he wanted to make some improvements to Twitter. Elon recommended the need for the subscription price to be cut down, an option for Dogecoin payment, and banning advertisements in Twitter Blue (the subscription version of Twitter).
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