Elon Musk will keep the folks at Twitter guessing; I think we all can agree on that.
Days after Musk bought 73.5 million shares of Twitter stock for $2.9 billion and claimed a 9.2% stake in the company; it was a foregone conclusion that he would be joining the Twitter board of directors.
He’s going to take a pass, surprising many people with that decision on Sunday.
Twitter CEO Parag Agrawal tweeted about not having Musk on his board.
“Elon has decided not to join our board. I sent a brief note to the company, sharing with you all here.”
“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. 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.”
Agrawai announced last Tuesday that Musk would be appointed to the board after a background check. Does that mean he failed the background check?
Here’s more from Agrawai’s tweet.
“We have and will always value input from our shareholders whether they are on our Board or not. Elon is our biggest shareholder, and we will remain open to his input.”
Musk is too intelligent and strategic to simply say no to a board seat. Stay tuned for further development on this one.
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