Last Updated on: 11th April 2022, 04:02 pm
The Twitter CEO makes a major announcement about Elon Musk
Twitter’s CEO said Sunday that Elon Musk, who is now the company’s controlling shareholder, will not join the company’s board of directors.
Musk was appointed to Twitter’s board of directors after buying a large stake in the company and becoming its largest shareholder.
“Elon has decided not to join our board,” Twitter CEO Parag Agrawal tweeted.
“Elon’s appointment to the board was officially scheduled to take effect on September 4, but Elon announced this morning that he would no longer be joining the board,” Agrawal said.
“I think it’s for the best”.
The currently richest man in the world, and with more than 80 million followers on the microblogging platform, last week announced the purchase of 73.5 million shares — or 9.2% — of Twitter common stock.
Agrawal announced Tuesday that Musk would be joining the board, describing him as “an ardent believer and fierce critic of the ministry, just what we need.”
Musk himself tweeted that he “looks forward to working with the Parag and Twitter board of directors to significantly improve Twitter over the coming months.”
In his announcement on Sunday, Agrawal shared a note he sent to Twitter that said Musk’s appointment to the board would be subject to a background check and that he should act in the best interests of the company once appointed.
“Elon is our largest shareholder and we remain open to its contribution,” Agrawal added.
Polarizing Figure
In apparent reaction to the news, Musk tweeted a smiley face emoji without further comment.
The billionaire tech entrepreneur is a frequent Twitter user who regularly mixes inflammatory and controversial statements about issues or other public figures with whimsical or business-oriented comments.
He has also repeatedly clashed with federal securities regulators, who cracked down on his use of social media, after an alleged attempt to take Tesla, private, failed in 2018.
Musk’s decision not to be part of Twitter’s board of directors came after he tweeted Saturday whether the social network was “dying” and called out users like singer Justin Bieber, who is widely followed but rarely posted.
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“Most of these ‘top’ accounts rarely tweet and post very little content,” the Tesla boss wrote, captioning a list of the 10 most-followed profiles, a list that includes him at number eight with 81 million subscribers.
“Twitter is dying?” he asked.
Most of these “top” accounts tweet rarely and post very little content.
Is Twitter dying? https://t.co/lj9rRXfDHE
— Elon Musk (@elonmusk) April 9, 2022
According to a report by The Washington Post, an outspoken and polarizing figure, the announcement of his appointment to the board has raised concerns among some Twitter employees.
Employees at the California-based social media company have raised concerns about Musk’s comments on transgender issues and his reputation as a difficult and dedicated leader, according to Slack’s statements verified by the Post.
A California agency sued Tesla for discrimination and harassment of black workers. The electric car manufacturer has rejected the allegations and spoken out against discrimination.
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