The CEO of Twitter, Parag Agrawal has revealed that the CEO of Tesla and largest shareholder of Twitter, has decided not to join the Twitter board.
While announcing the development, Agrawal tweeted: “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 shareholder and we will remain open to his input.”
Musk recently disclosed a 9.2 per cent stake in Twitter Inc, worth around $3 billion, making him the largest shareholder of Twitter and triggering a rise of over 27 percent in the company’s shares.
As revealed in a regulatory filing, Musk’s move came on the heels of his tweet that he was giving “serious thought” to creating a new social media platform, while questioning the commitment of Twitter to free speech.
