Dynamite News
Business: Twitter announces Elon Musk will not join board of directors
Microblogging site Twitter on Monday announced that Tesla CEO Elon Musk will not be joining the company's board of directors. More details on Dynamite News:
Washington [US]: Microblogging site Twitter on Monday announced that Tesla CEO Elon Musk will not be joining the company's board of directors.
The announcement was made by Twitter CEO Parag Agrawal.
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Elon is our biggest shareholder and we will remain open to his input," it said.
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
Earlier last week, Musk had disclosed that he had taken a nine per cent stake in the social media platform.
Following this, Twitter said in a regulatory filing on Tuesday that it plans to appoint the Tesla and SpaceX CEO to its board for a term that ends in 2024.
As part of the deal, Musk has agreed not to acquire more than 14.9 per cent of the company's shares while he remains on the board, CNN reported. (ANI)