CEO of popular micro blogging platform Twitter, Parag Agrawal has confirmed in a recent statement that Elon Musk won’t join the company’s board despite his enormous stake in the company, Oyogist reports.
Recall just Last week, Twitter’s CEO announced that billionaire Elon Musk would be a part of Twitter’s board.
Just a week since then, Parag Agrawal now says Musk doesn’t want to be a part of Twitter‘s board but will still play a key role in building the company.
“Elon is our biggest shareholder and we will remain open to his input,” Agrawal noted in his latest tweet.
“Elon Musk has decided not to join our board. Here’s what I can share about what happened. The 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 interests of the company and all our shareholders, was the best path forward. The board offered him a seat,” Agrawal noted in his latest tweet.
“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,” Agrawal further said.
