Elon Musk Reverses Decision to Join Twitter’s Board https://www.wsj.com/articles/elon-musk-reverses-decision-to-join-twitters-board-twitter-ceo-says-11649648263
Elon Musk decided not to join Twitter Inc.’s [US:TWTR] board of directors, Chief Executive Parag Agrawal said, a dramatic reversal that cast new uncertainty over the relationship between the social media platform and its largest shareholder.
The late-Sunday announcement capped a whirlwind week. Mr. Musk’s 9.2% stake in Twitter was made public last Monday, plans for him to join the board were announced Tuesday, and he spent much of the weekend tweeting criticisms, suggestions, and apparent jokes about the company.
Mr. Agrawal said in a message posted to Twitter that he and the board were excited about collaborating with Mr. Musk, and believed that having him as a fiduciary of the company, where he “has to act in the best interests of the company and all our shareholders, was the best path forward.” Mr. Musk’s appointment was to take effect on Saturday, the Twitter CEO wrote, “but Elon shared that same morning that he will no longer be joining the board.”
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