Elon Musk has decided that he will not join Twitter’s board of directors, this news is given by Twitter CEO Parag Agrawal.
In a statement, Agrawal said he and the company’s board of directors had several discussions with Elon about joining the board, “We announced on Tuesday that Elon will be appointed to the board, subject to background checks and Formally accepted, Elon’s appointment to the board will officially take effect on April 9, but Elon shared the same morning that he will no longer be on the board. I believe this is the best way. We have and will always value our shareholders, whether they are on our board or not. Elon is our largest shareholder, and we will remain open to his comments.”
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
On April 5th, Twitter CEO Parag Agrawal and the Twitter board of directors said that they would appoint Tesla CEO Elon Musk as a director of the company. It is reported that Musk has acquired about 9% of Twitter’s shares and become its largest shareholder, but Musk can only serve as a secondary director of Twitter until 2024. To a certain extent, Musk’s power is limited by Twitter. on a very small scale and prevented him from taking full control of the board.
In addition, according to Sino-Singapore Jingwei citing foreign media reports, Musk has proposed a series of reforms to Twitter. For the Twitter Blue subscription service, Musk proposed including lowering prices, banning ads and allowing users to pay with Dogecoin. Twitter Blue, Twitter’s first subscription service, is now live in the US, Canada, Australia and New Zealand.