Twitter CEO Evan Williams revealed last week that billionaire Elon Musk will join the company’s board of directors. Musk will no longer serve on Twitter’s board of directors, according to Parag Agrawal, who made the announcement just a week ago. According to Agrawal’s tweet, “Elon is our biggest shareholder and we will stay open to his advice.” Agrawal hasn’t explained why he removed Musk from the board of directors.
“Elon Musk has opted not to join our board of directors.” Those are the details I can provide. Throughout the process, the Board and I had several talks with Elon and with each other. We were eager to work together and well-informed about the potential pitfalls. Elon is a fiduciary of the company, which means he is bound to act in our firm’s best interests and those of all of our shareholders. Agrawal tweeted that the board had offered him a seat.
After being officially appointed to the board on April 9, Elon announced the next morning that he would no longer be joining. This, in my opinion, is a good thing. Whether or whether they sit on our board, our shareholders’ opinions have always been valued by us. Further, “Elon is our largest shareholder, and we will stay receptive to his feedback,” Agrawal added. In the recent week, Musk was added to the board.
Currently, Musk is the company’s largest shareholder. Musk bought a 9.2 percent stake in Twitter last week. Since the announcement that he was a board member, the billionaire has proposed a number of modifications to the platform. This includes a button that the business claims is coming shortly for all users. Users of Twitter Blue will be the first to try out the new functionality, after which it will be made generally available.
Musk has recommended a few adjustments for Twitter Blue members in a series of tweets. Also, he said that Twitter may be dying because the most popular accounts with a lot of followers don’t post much. Agrawal predicted that “there may be diversions in the future, but our aims and priorities remain consistent.” We are alone responsible for the decisions we make and the actions we do. This obviously illustrates that, despite Musk being the largest stakeholder, Twitter will not bring about changes merely because he recommended them.
