Elon Musk not becoming a member of Twitter’s board of administrators | CBC Information

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Tesla CEO Elon Musk will not be becoming a member of Twitter’s board of administrators as beforehand introduced. The tempestuous billionaire stays Twitter’s largest shareholder.

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Twitter CEO Parag Agrawal tweeted the information, which adopted a weekend of Musk tweets suggesting attainable modifications to Twitter, together with making the positioning ad-free. Almost 90 per cent of Twitter’s 2021 income got here from advertisements.

“Elon’s appointment to the board was to grow to be formally efficient on 4/9, however Elon shared that very same morning that he wouldn’t be becoming a member of the board,” Agrawal wrote in a reposted observe initially despatched to Twitter staff. “I imagine that is for the very best.”

Agrawal did not supply a proof for Musk’s obvious determination, though he dropped one main trace. The Twitter board “believed having Elon as a fiduciary of the corporate, the place he, like all board members, has to behave in the very best pursuits of the corporate and all our shareholders, was the very best path ahead,” he wrote.

At 9:30 p.m., Musk tweeted an emoji of a face with spherical eyes and a hand over its mouth. The image is commonly used to counsel embarrassment or coy laughter, generally with a connotation of “Oops!” It was not clear what Musk meant by the tweet, and he did not elaborate on it.

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