Elon Musk withdraws from joining Twitter board

Tesla CEO Elon Musk has decided not to join the Twitter’s board of directors.

In a swift U-turn after the announcement of this appointment to the board last week, a tweet by Twitter chief executive Parag Agrawal explained the change of plan.

“Elon’s appointment to the board was to become officially effective April 9, but Elon shared that same morning that he will no longer be joining the board.

“I believe this is for the best. We have and will always value input from our shareholders whether they are on our board or not. Elon is our biggest shareholder and we will remain open to his input.” On April 5, Agrawal declared he was was “excited to share that [Twitter is] appointing Elon Musk to our board”.

Musk also commented on his new role saying he was “looking forward to working with Parag and Twitter board to make significant improvements to Twitter in coming months”.

This may be seen as a confusing series of events to some, as just days before the initial declaration of Musk’s new appointment, he purchased a 9.2% stake in Twitter.

The statement has inspired debate across Twitter and crypto fanatics alike. Musk has so far stayed silent on his withdrawal.

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Updated: 04/12/2022 — 18:00