Victor Wynne

Elon Musk won’t join Twitter’s board after all


Sam Byford:

Elon Musk is no longer going to join Twitter’s board, Twitter CEO Parag Agrawal has announced in a message to the company. Last week, Agrawal confirmed that Musk would be appointed to the board following his purchase of 9.2 percent of the company’s sharesbut now says that Musk has decided against taking up the seat.

“We announced on Tuesday that Elon would be appointed to the Board contingent on a background check and formal acceptance,” Agrawal writes. “Elon’s appointment to the board was to become officially effective 4/9, but Elon shared that same day that he will no longer be joining 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 we will remain open to his input.”

I refrained from sharing the news last week that he would be joining the board because something just didn’t seem right. I had a vague notion it would fall apart in some way, and, well, you can’t make this stuff up. It will definitely be a lot more entertaining seeing him continue to grow his stake in the company, and influence Twitter’s decision making from the sidelines.