EFE – It turns out, that Elon Musk won’t be part of Twitter’s board of directors despite being the biggest shareholder, a decision the multimillionaire took before the appointment became official.
Twitter CEO Parag Agrawal, who on Tuesday last week had announced that Musk would be joining Twitter’s board, made the announcement in a tweet posted Sunday night.
“Elon’s appointment to the board was to be officially effective April 9, but Elon shared that same morning that he will no longer be joining the board,” Agrawal wrote on the social network.
Last Tuesday, Agrawal had, also in a tweet, been “excited” to announce that Musk would be joining Twitter’s Board of Directors and had anticipated that he was going to bring “great value” to the company.
According to Agrawal, this is Musk’s own decision, and that he believes his decision is the right one.
“I think this is the best thing to do,” the Twitter CEO added.
Musk’s only reaction to Agrawal’s announcement has been the publication of a tweet with the emoticon of a face with a hand covering his mouth.
After learning of the future appointment of the entrepreneur on April 5, Twitter’s shares soared even before the opening of the New York Stock Exchange, in the electronic activities of the continuous market.
A day earlier, the announcement of Musk’s acquisition of a 9.2% stake in the technology platform had boosted the company’s shares, which closed 27.12% higher than their previous close.
The billionaire, who currently owns nearly 73.5 million shares of the messaging company, had become a critic of the social network and had questioned whether its rules adhered “rigorously” to the principle of freedom of expression.
These criticisms had raised misgivings in some quarters, including among Twitter employees themselves, who were concerned that Musk was exercising excessive power at the company to change its ethical publishing standards, including banning former US President Donald Trump on the grounds that his posts instigated the January 6, 2021, assault on Capitol Hill.
