Elon Musk Declines Offer To Join Twitter Board Of Directors

The saga between Twitter (NYSE: TWTR) and Elon Musk continues to twist and turn. After announcing just five days ago that the Tesla (NASDAQ: TSLA) CEO would be joining the board of directors of Twitter following his move to take a massive 9.1% stake in the firm, it appears that Musk has reversed course.

It was informally announced via Twitter by CEO Parag Agrawal just minutes ago that Musk evidently has elected to not join the board of directors. What’s more, it appears this decision was already made Saturday by Musk, with the development just coming to light now.

In announcing the change of course, Agrawal indicated that the board had many discussions, both with and without Musk, on whether he should formally join the firms board of directors. Part of the decision to do invite Musk to the board evidently was based on the fact that Musk would become a fiduciary, thereby forcing him to “act in the best interest of the company,” which was “the best path forward.”

After the announcement was made on April 5, Musk was set to be sworn in yesterday, on April 9. Before the appointment was formalized however, Musk reportedly decided he no longer wished to join the board.

Commenting on the decision, Agrawal stated, “There will be distractions ahead, but our goals and priorities remain unchanged. The decisions we make and how we execute is in our hands, no one else’s. Let’s tune out the noise, and stay focused on the work and what we’re building.”

Notably, despite Musk declining yesterday to join the board, he has spent the weekend raising questions related to the company as a whole. For instance, yesterday he suggested that any individual whom signs up for Twitter Blue, which is essentially the “premium” version of the platform, should get authenticated as part of the process.

He also had some .. less than professional commentary on the company as well.

While also seemingly trolling the company itself, suggesting he is aiming to create significant change at the firm. To this end, it should be noted that if he indeed took on the role of director with the company, his potential ownership was to be capped at 14.9%.


Information for this briefing was found via Twitter and Edgar. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Hundreds of Thousands of Twitter Bots Are Working to Manipulate Republican Sentiment for 2024 Election

A research group has uncovered networks of Twitter bots designed to praise former President Donald...

Wednesday, March 8, 2023, 04:01:00 PM

Lawmakers Urge Treasury Secretary To Allow Musk’s Starlink To Provide Internet In Iran

A bipartisan group of lawmakers recently wrote to Treasury Secretary Janet Yellen to allow Elon...

Friday, September 23, 2022, 11:41:00 AM

X Complicated: Microsoft, Meta Already Own Trademarks to Twitter’s New Brand Name

Elon Musk’s decision to rebrand Twitter as X could potentially lead to more legal woes...

Tuesday, July 25, 2023, 03:29:00 PM

Desalination: Elon Musk Says ‘Its The Solution To The Global Water Crisis’

Last week I was sitting on my couch, eating some bon bons, and watchin Bill...

Tuesday, May 9, 2023, 01:30:00 PM

Tesla Shares Fall After Company Misses Sixth Consecutive Quarterly Profit

Putting the buzz surrounding the once-in-a-century GameStop price rally aside, it appears that Tesla, the...

Thursday, January 28, 2021, 11:56:00 AM