International

Elon Musk no longer joining Twitter’s board of directors

Tesla CEO Elon Musk will not be becoming a member of Twitter’s board of administrators as beforehand introduced. The tempestuous billionaire stays Twitter’s largest shareholder.

Twitter CEO Parag Agrawal tweeted the information, which adopted a weekend of Musk tweets suggesting potential adjustments to Twitter, together with making the location ad-free. Practically 90 per cent of Twitter’s 2021 income got here from adverts.

“Elon’s appointment to the board was to develop into formally efficient on 4/9, however Elon shared that very same morning that he wouldn’t be becoming a member of the board,” Agrawal wrote in a reposted observe initially despatched to Twitter workers. “I imagine that is for one of the best.”

Agrawal did not supply a proof for Musk’s obvious determination, though he dropped one main trace. The Twitter board “believed having Elon as a fiduciary of the corporate, the place he, like all board members, has to behave in one of the best pursuits of the corporate and all our shareholders, was one of the best path ahead,” he wrote.

At 9:30 p.m., Musk tweeted an emoji of a face with spherical eyes and a hand over its mouth. The image is usually used to recommend embarrassment or coy laughter, typically with a connotation of “Oops!” It was not clear what Musk meant by the tweet, and he did not elaborate on it.

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