Elon Musk Declines Twitter Board of Directors
Tesla CEO Elon Musk has declined to join Twitter’s board of directors according to Twitter CEO Parag Agrawal.
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
Agrawal announced this news via the tweet above, stating, “Elon has decided not to join our board.” He added, “I sent a brief note to the company, sharing with you all here.”
The note from Agrawal on Twitter goes on, “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 interests of the company and all our shareholders, was the best path forward. The board offered him a seat.”
The CEO continued, “we announced on Tuesday that Elon would be appointed to the Board contingent on a background check and formal acceptance.” Further sharing that “Elon’s appointment to the board was to become officially effective 4/9, but Elon shared that same morning that he will no longer be joining the board. I believe this is for the best.”
This news comes off as surprising for Twitter stakeholders who were expecting more action from Musk’s recent purchase of 9.2% stake in the company by now.
Musk has also been noticeably teasing the public about some of the changes he would possibly bring to Twitter from his new found involvement in the company.
With one example stemming from a recent Twitter poll where Musk asked his followers whether the company should add an edit button, a long-demanded feature.
Do you want an edit button?
— Elon Musk (@elonmusk) April 5, 2022
It’s worth noting that just one day after this poll, Twitter announced it would be testing the edit button feature. A recognizable example of the strong influence Musk has on the social media platform already.
For many, this recent announcement from Agrawal may feel like a step in the wrong direction for users who are hoping to see Musk become more involved in the development of Twitter.
But there is still time and hope that the entrepreneur with nearly 80 million followers on the platform will use his power and influence to bring some much-needed change to the social media company.
Twitter has been struggling as of late, with its stock dropping by over 30% in the last year.
The company is also facing increasing pressure from investors to make changes and improve its user growth. Which Musk’s recent investment with Twitter alone has already improved.
Towards the end of Agrawal’s announcement on Twitter, he notably urged employees to ignore “distractions,” to “tune out the noise, and stay focused on the work and what we’re building.”
This is most certainly in response to all the media attention Twitter has been receiving in the past week. Where various employees have already caved into pressures to express their frustrations with Musk’s new-found involvement publicly.
On Friday, Elon Musk himself announced that he would not be joining the Twitter board of directors after previously saying he was considering it.
Musk made his announcement on Twitter too, of course, saying that he decided it wasn’t the right time for him to take on such a role.