Elon Musk will no longer serve on Twitter’s board of directors

Elon Musk Twitter

Twitter CEO Parag Agrawal made the announcement

The founder of Tesla, Elon Musk, will finally not be part of the board of directors of Twitter, after the opposite was announced last week once it was known that he had acquired 9.2 percent of the messaging platform, becoming the largest shareholder in the company.

Twitter CEO Parag Agrawal, who had announced on Tuesday last week that Musk would join Twitter’s Board of Directors, made the announcement in a tweet posted on Sunday night.

“Elon’s appointment to the Board of Directors was officially going to be effective on April 9, but Elon shared that same morning that he will no longer be joining the board,” Agrawal wrote on social media.

Last Tuesday, Agrawal had been shown, also in a tweet, “excited” to announce that Musk would join the board of directors of Twitter and had anticipated that he would bring “great value” to the company.

According to Agrawal, this is Musk’s own decision, and that he believes his decision is the correct one. “I think this is for the best,” the Twitter CEO added. Musk’s only reaction to Agrawal’s announcement has been the publication of a tweet with an emoticon of a face with its hand covering its mouth.

After knowing the future appointment of the businessman, on April 5, Twitter shares shot up even before the opening of the New York Stock Exchange, in the electronic activities of the continuous market.

A day earlier, the announcement of Musk’s acquisition of 9.2% of the technology platform had sent the company’s stock soaring, closing 27.12% above its previous close.

The billionaire, who currently owns almost 73.5 million shares of the messaging company, had become a critic of the social network and had questioned whether its rules “rigorously” adhered to the principle of freedom of expression. expression.

These criticisms had aroused misgivings in some quarters, including among Twitter employees themselves, who were concerned about the possibility that Musk exerted excessive power at the company to change its publishing ethics rules, including banning former US President Donald Trump, who believes his posts instigated the January 6, 2021, assault on Capitol Hill.