Twitter CEO Parag Agrawal said Musk, the company’s largest shareholder, decided not to join its board.
The Twitter CEO has said Elon Musk will not join the social media giant’s board, in a reversal less than a week after announcing the billionaire tech entrepreneur would be appointed.
Currently the richest man in the world and with more than 80 million Twitter followers, Musk last week announced the purchase of 73.5 million shares – or 9.2% – of the company’s common stock. company, thus becoming its main shareholder.
“Elon has decided not to join our board of directors,” Twitter CEO Parag Agrawal tweeted on Sunday.
“Elon’s appointment to the board was supposed to become officially effective on 9/4, but Elon shared that morning that he will no longer be joining the board,” Agrawal said.
“I believe it’s for the best.”
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
Agrawal announced Tuesday that Musk would join the board, describing him as “a passionate believer and intense critic of the service, which is exactly what we need.”
Musk himself tweeted that he “looks forward to working with the Parag & Twitter board to deliver meaningful improvements to Twitter in the months ahead!”
In his Sunday announcement, Agrawal shared a note he sent to Twitter, which stated that Musk’s appointment to the board would be contingent on a background check and that he should act in the best interest of the company. company once named.
“Elon is our largest shareholder and we will remain open to his input,” Agrawal added.
In an apparent reaction to the news, Musk tweeted a smiling emoji, with no further comment.
The SpaceX founder and Tesla chief is a frequent Twitter user, regularly mixing inflammatory and controversial statements about issues or other public figures with whimsical or business-oriented remarks.
He has also repeatedly fallen out with federal securities regulators, who cracked down on his use of social media after an alleged effort to take Tesla private in 2018 failed.
Most of these “top” accounts rarely tweet and post very little content.
Is Twitter Dying? https://t.co/lj9rRXfDHE
— Elon Musk (@elonmusk) April 9, 2022
Musk’s decision not to sit on Twitter’s board came after he tweeted on Saturday asking if the social media network was “dying” and calling out users such as singer Justin Bieber, who are widely followed but rarely published.
“Most of these ‘top’ accounts rarely tweet and post very little content,” the Tesla boss wrote, captioning a list of the 10 profiles with the most followers – a list that includes himself at number eight. rank, with 81 million subscribers.
“Is Twitter dying? ” He asked.
An outspoken and polarizing figure, the announcement of his appointment to the board had raised concerns among some Twitter employees, according to a Washington Post report.
Workers at the US-based social media company have raised concerns about Musk’s statements on transgender issues and his reputation as a difficult and driven leader, according to statements on Slack reviewed by the Post.
A California agency sued Tesla, alleging discrimination and harassment against black workers. The electric car maker has denied the charges, saying it opposes discrimination.