Elon Musk Stops Joining Twitter Board

His arrival was scheduled for April 9, but the erratic Tesla and SpaceX boss changed his mind after a week of adventures.

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Tesla and SpaceX boss Elon Musk will ultimately not join Twitter’s board of directors. His coming “was to officially start on April 9, but Elon announced that same morning that he was no longer part of the board”, tweeted Monday, April 11, Parag Agrawal, general manager of the social network. The latter had addressed a message to the personl from Twitter, which he shared on the platform after a week of adventures between the erratic billionaire and the platform. “We have enjoyed and will always appreciate the participation of our shareholders, whether they are on our board of directors or not.”

“Elon is our largest shareholder and we remain open to his involvement.”

Parag Agrawal, General Manager of Social Network

message to Twitter employees

The richest man in the world first announced in early April that he had acquired a 9.2% stake in Twitter, making him the largest shareholder. He first indicated in the document sent to the stock market regulator that he had no intention of influencing important strategic decisions. He had also committed not to increase his stake beyond 14.9%. Subsequently, the announcement of his joining the board of directors was finally welcomed by the markets. Investors took it as a sign that the billionaire was finally planning to get involved in the group’s strategy.

Since announcing his entry into the capital, Elon Musk has multiplied the provocations. In particular, he conducted a poll asking if Twitter users wanted an “edit” button to correct a tweet after it was published. On Saturday, he wondered if the social network… “dying”, indicating highly followed but not very active accounts. On Sunday, he made two more suggestions: “Remove the w in Twitter?” and “Convert Twitter headquarters in San Francisco into a shelter for the homeless, because no one goes there anyway”† He then suggested changes to the paid subscription for the social network Twitter Blue.

“There will be distractions in the future, but our goals and priorities remain unchanged. The decisions we make and how we execute them are in our hands and nobody else’s.”, Parag Agrawal said in his message to employees. Several Twitter employees had expressed their concerns, according to the Washington Post (in English)especially in the belief that the values ​​of the richest man in the world were not in line with the corporate culture of the social network.

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