Tesla CEO Elon Musk "has decided not to join" the board of Twitter, Parag Agarwal, Chief Executive Officer of the micro-blogging said.
Elon has recently bought 9.2 per cent stake in Twitter and later it was announced that he will join the board of platform. The billionaire was expected to join the Twitter's board on 9 April, 2022, however, on the same morning, he had said that "he will no longer be joining".
Twitter CEO Parag Agarwal shared a lengthy post on Twitter where he gave the details of what had happened. "Elon has decided not to join our board. I sent a brief note to the company, sharing with you all here." he said.
Agarwal said the board and he had several round of discussions about Elon Musk joining the Twitter board. A seat was also offered to Elon Musk.
Twitter CEO Parag Agarwal on Elon Musk not joining Twitter board
"The (Twitter) board and I had many discussions about Elon joining the board, and with Elon directly. We were excited to collaborate and clear about the risks. We also believed that having Elon as a fiduciary of the company where he, like all board members, has to act in the best interest of the company and all our shareholders, was the best path forward. The board offered him a seat," Parag Agrawal said.
"We announced on Tuesday that Elon (Musk) would be appointed to the Board contingent on a background check and formal acceptance. Elon’s appointment to the board was to become officially effective 4/9 (9 April, 2022), but Elon shared that same morning that he will no longer be joining the board," Twitter CEO said.
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
Parag Agarwal further said, "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."
Twitter CEO Parag Agarwal added, "There will be distractions ahead, but our goals and priorities remain unchanged. The decisions we make and how we execute is in our hands, no one else’s. Let’s tune out the noise, and stay focused on the work and what we’re building."
On Thursday, 8 April, 2022, a day before Elon Musk was to join Twitter board, Parag Agarwal had written a email to all his employees in which he said, "We say that Twitter is what’s happening and what people are talking about right now."
"Often, we (at) Twitter are what’s happening and what people are talking about. That has certainly been the case this week... Following our board announcement, many of you have had different types of questions about Elon Musk, and I want to welcome you to ask those questions to him," the email read.
A few weeks back, Elon in a post on Twitter had said that he was considering building his own social media platform. He even had criticised Twitter's content moderation policies.
With inputs from agencies
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