May 25, 2022

Elon Musk will not sit on Twitter’s board of directors, the social network’s CEO Parag Agarwal said in a surprise change following last week’s announcement that Tesla and SpaceX executives had been appointed to the board.

“On Tuesday, we announced that Elon will be appointed to the board of directors after a background check and formal approval. Elon’s appointment to the board of directors will officially take effect on April 9, but on the same morning, Elon announced that he would no longer be a member of the board, ”Agarwal wrote on his Twitter.

“We always value and will always value the contribution of our shareholders, whether they are on our board of directors or not. Elon is our largest shareholder and we are open to his proposals.

Agarwal’s revelation came after Musk’s unusual tweets over the weekend in which he expressed surprise among his more than 80 million followers that Twitter was dying, citing a low tweet rate from some of the most popular accounts on the planet. Social media. He also asked his followers if Twitter would turn its San Francisco headquarters into a homeless shelter.

To join Twitter’s board of directors, Musk had to limit his total ownership of the social network to 14.5%.

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