Elon Musk will not be joining Twitter board, CEO Parag Agrawal says
Tesla and SpaceX boss Elon Musk had bought a 9.2 percent stake in the microblogging social media platform, which was revealed via an SEC filing last week.
Monday April 11, 2022,
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In a significant reversal, Tesla and SpaceX CEO Elon Musk won't be joining Twitter's board, the social media platform's CEO Parag Agrawal said in a Tweet on Monday.
Musk, who owns 9.2 percent in the company, as per an SEC filing earlier this month, was supposed to join the Board on April 9, officially, but the technopreneur told Agrawal that he won't be doing so.
"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," Agrawal, who took over the reins offrom Founder Jack Dorsey last year, said in his post on the platform.
"Elon is our biggest shareholder and we will remain open to his input," he added.
Over the weekend, Musk discussed Twitter's premium subscription service, Twitter Blue, and suggested reducing the price, banning advertisements, and offering the option to pay in dogecoin.
Edited by Teja Lele