Tesla CEO, Elon Musk has declined the appointment to Twitter’s Board of Directors, a week after acquiring a 9.2% stake in the social media company.
The announcement was made by Twitter Chief Executive Officer, Parag Agrawal on Sunday.
“Elon has decided not to join our board,” Twitter CEO Parag Agrawal tweeted.
“Elon’s appointment to the board was to become officially effective 4/9, but Elon shared that same morning he will no longer be joining the board,” Agrawal said.
‘I believe this is for the best”
Sharing a message sent to all Twitter employees via the social media platform, Agrawal said, “Elon is our biggest shareholder, and we will remain open to his input.
He 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.
Currently, the world’s richest man and with more than 80 million followers on the microblogging platform, Musk, last week disclosed a purchase of 73.5 million shares – or 9.2 percent – of Twitter’s common stock.
Agrawal had announced on Tuesday that Musk would be joining the board, describing him as “a passionate believer and intense critic of the service which is exactly what we need”.
“Elon is our biggest shareholder and we will remain open to his input,” Agrawal added.
