Elon Musk Not to be Included in the Twitter Board: CEO Parag Aggarwal

Elon Musk Not to be Included in the Twitter Board: CEO Parag Aggarwal 

Elon Musk will not join Twitter's board. This information has been given by the company's CEO Parag Agarwal. Parag Aggarwal has also shared a note on Twitter regarding this. In which he mentions what happened between Elon Musk and him joining the board. Also said that "we give priority to the shareholders of Twitter. That's why we'll continue to seek Elon Musk's opinion when needed."

A few days ago, Aggarwal had shared the information about his inclusion in the board, but now it is not happening.

Parag Aggarwal told the reason

Parag Aggarwal has shared a brief note with his tweet. In that note, he says that "Elon Musk has decided not to join our board. Here's what I can share about what happened. 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."

Joining Elon Musk's board was to take place on April 9

Parag Aggarwal stated in his tweet, "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.

We had announced on Tuesday that Allen would join the board. Elon Musk was to be officially appointed on the board on April 9, but Elon told the same morning that he could not join 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 will remain open to his input. 

There will be distractions ahead, but our goal 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."

Musk is the largest shareholder with a share of 9.2%

Earlier last week, Elon Musk bought a 9.2% stake in Twitter. With this, he has become the largest shareholder of the company. Information was also shared with Parag Aggarwal to include him in the Twitter board. On the other hand, he was constantly polling about Twitter.