Elon Musk will not be a part of Twitter’s board

The assertion additionally pointed to the background test Mr Musk must go to change into a director and the fiduciary duties he must tackle, requiring him to behave in the perfect pursuits of the corporate and its shareholders.

“The board and I had many discussions about Elon joining the board, and with Elon directly,” Mr Agrawal wrote. 

“We have been excited to collaborate and clear in regards to the dangers. We additionally believed that having Elon as a fiduciary of the corporate the place he, like all board members, has to behave in the perfect pursuits of the corporate and all our shareholders, was the perfect path ahead. The board provided him a seat.

“We introduced on Tuesday that Elon could be appointed to the Board contingent on a background test and formal acceptance. Elon’s appointment to the board was to change into formally efficient (April 9), however Elon shared that very same morning that he’ll not be becoming a member of the board. I imagine that is for the perfect. We have and can all the time worth enter from our shareholders whether or not they’re on our Board or not. Elon is our largest shareholder and we’ll stay open to his enter.

“There will be distractions ahead, but our goals and priorities remain unchanged. The decisions we make and how we execute is in our hands, no one else’s. Let’s tune out the noise, and stay focused on the work and what we’re building.”

Mr Musk has not commented on the choice.

On Saturday, he tweeted an inventory of Twitter’s high 10 accounts, saying they not often tweet and requested: “Is Twitter dying?”

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