Twitter CEO: Elon Musk is not going to sign up for Twitter board

“Elon’s appointment to the board was once to grow to be formally efficient 4/9, however Elon shared that very same morning that he’s going to now not be becoming a member of the board,” Agrawal stated within the tweet. “I imagine that is for the most productive. We have now and can at all times worth enter from our shareholders whether or not they’re on our Board or no longer. Elon is our largest shareholder and we can stay open to his enter.”

Musk not too long ago disclosed he had bought a greater than 9% stake in Twitter, making him the corporate’s greatest shareholder. As a part of the deal for Musk to enroll in the board, the Tesla CEO had agreed to not gain greater than 14.9% of the corporate’s stocks whilst he remained at the board.

Tesla’s inventory surged after his preliminary acquire was once disclosed.

It is not fully transparent what enhancements Musk had in thoughts. In fresh weeks, Musk had prompt on Twitter that the platform does no longer permit unfastened sufficient speech, and stated it must make its set of rules open supply. He additionally polled his fans ultimate week about whether or not they “need an edit button,” an established characteristic request, if a divisive one, from many Twitter customers.

– CNN’s Clare Duffy contributed to this file