Days after the buzz of Tesla and SpaceX founder Elon Musk joining the microblogging platform Twitter’s board as director, Twitter chief executive Parag Agrawal has confirmed that Elon Musk has declined the offer.
Parag Agrawal on Monday tweeted, “Elon has decided not to join our board. I sent a brief note to the company, sharing with you all here.”
Elon has decided not to join our board. I sent a brief note to the company, sharing with you all here. pic.twitter.com/lfrXACavvk
— Parag Agrawal (@paraga) April 11, 2022
In a letter posted on Twitter, Agarwal said that the decision of Elon comes a week after the Twitter board offered him a seat. “The board and I had many discussions about Elon joining the board, and with Elon directly. We were excited to collaborate and clear about the risks. We also believed that having Elon as a fiduciary of the company where he, like all board members, has to act in the best interest of the company and all our shareholders, was the best path forward. The board offered him a seat,” Agrawal said in a tweet.
The development comes days after Musk disclosed picking up a 9.2% stake in Twitter. Last week, he had even tweeted a poll about whether Twitter should introduce an edit button.
Musk earlier disclosed that he has picked a 9.2% stake in the firm and became its largest shareholder, Agrawal tweeted last week that he was ‘excited’ that Musk would join the board of Twitter.
“There will be distractions ahead, but our goals and priorities remain unchanged. The decisions we make and how we execute them are in our hands, no one else’s. Let’s tune out the noise, and stay focused on the work and what we’re building,” Agrawal added in the post.