Twitter Inc.’s largest shareholder Elon Musk has decided not to join the social media company’s board, Parag Agarwal, the company’s chief executive, said in a tweet on Monday, April 11, 2022.
“Elon’s appointment to the board was to take effect officially from 4/9 (April 9), but Elon shared the same morning that he would no longer be joining the board”, Mr Agarwal’s statement said.
Describing Mr Musk as the largest shareholder, Mr Agarwal said the board would be open to his inputs.
“There will be further distractions, but our goals and priorities will remain unchanged,” the statement said.
Mr Musk on Saturday suggested changes to the Twitter Blue premium subscription service, including slashing its price, banning advertising and offering the option to pay in the cryptocurrency Dogecoin.