Elon Musk will no longer be joining the Twitter’s board of directors.
The sudden reversal was announced by Twitter CEO Parag Agrawal, who posted a statement on Sunday night saying it was Musk’s decision not join the board.
Agrawal also shared some details around when the decision was made.
“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,” the statement said.
No further details were provided on the specific reasons for his decision.
Musk’s addition to the board was announced on April 5 following a regulatory filing disclosing he had purchased a 9.2% stake in Twitter, making him the company’s largest shareholder.
However, there were some conditions to his appointment, such as not being allowed to become the beneficial owner or purchase more than 14.9% of the company’s shares.
Even though he will no longer be taking a seat on the board, it looks like he still wants to see some significant changes from the company.
Over the weekend Musk tweeted about adding authentication checkmarks to whoever paid for Twitter Blue, if the ‘w’ in Twitter should be dropped, and even asking if Twitter’s headquarters should be converted to a homeless shelter.
You can read the full statement below.
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