Billionaire Elon Musk is not going to be becoming a member of Twitter’s board of administrators in any case, the corporate’s CEO Parag Agrawal stated on Monday.
The announcement got here as a shock after Musk, the CEO of Tesla and SpaceX, stated he can be becoming a member of the board following his buy of a 9.2 per cent stake that made him the platform’s greatest shareholder.
“Elon has determined to not be a part of our board,” Agrawal tweeted on Monday.
In his tweet, Agrawal included a observe he despatched to the corporate that stated the appointment was topic to a background verify and that Musk must be loyal to the perfect pursuits of the corporate.
“Elon’s appointment to the board was to develop into formally efficient 4/9, however Elon shared that very same morning that he’ll not be becoming a member of the board,” the observe learn.
“I imagine that is for the perfect. We have now and can at all times worth enter from our shareholders whether or not they’re on our Board or not. Elon is our greatest shareholder and we’ll stay open to his enter.”
What Musk needs for Twitter
Ever since his stake in Twitter was made public final week, Musk had been tweeting his concepts for the platform, together with an “edit” characteristic that the corporate since confirmed it was engaged on.
Musk is a prolific Twitter person with greater than 81 million followers, and his tweets typically transfer markets – at the same time as it may be difficult to know precisely when he is critical and when he is joking.
This weekend,including verification checkmarks to the premium subscription service Twitter Blue, in addition to slashing its worth, banning promoting and giving customers an choice to pay within the cryptocurrency dogecoin.
He additionally launched a ballot on whether or not to“since no-one reveals up anyway.”
The ballot received over 1.9 million votes, with over 91 per cent answering sure.
Shortly after, Musk began one other ballot asking customers, with the 2 solely potential solutions being “sure” and “in fact”.