Elon Musk Won’t Become a Twitter Board Member After All

Elon Musk will not join Twitter’s board of directors after all. Twitter CEO Parag Agrawal says it was Musk’s own decision not to join. Agrawal says he will continue to listen to Musk’s input.

Twitter’s CEO announced on the platform on Monday morning that Musk will not join the Board of Directors without a reason being given. In the statement, Agrawal said it was conditional on a background check and formal acceptance. Musk’s membership should have been made official on Saturday, but that morning Musk himself announced that he would no longer be a member.

Agrawal thinks this is ‘the best’ and also says that he always appreciates input from shareholders. Musk now owns 9.2 percent of Twitter’s shares, making it the company’s largest shareholder. Twitter’s CEO says he will remain open to Musk’s input. The CEO goes on to say that there will be “distractions” in the future, “but our goals and priorities remain unchanged.”

The statement also states that Musk would act as a fiduciary in his role as a board member, acting in the interest of Twitter. Also, as a board member, he should not own more than 14.9 percent of Twitter’s shares, whether directly or indirectly.

Musk has himself only responded with an emoji, where a hand is held over a mouth. Agrawal and Musk announced last Tuesday that Musk would become a board member. It is unclear what influence he would have. Musk did say he wants to make “significant changes”. He also published several polls on the platform, such as a poll for an edit buttona poll to change Twitter’s name to Titter and a proposal to convert the company headquarters to a homeless shelter.