Elon Musk won't join Twitter's board; we remain open to his 'input': CEO
Tesla CEO Elon Musk won’t be joining Twitter’s board of directors as previously announced, the company’s CEO said on Monday (April 11).
Twitter CEO Parag Agrawal tweeted the news, which followed a weekend of Musk tweets suggesting possible changes to Twitter, including making the site ad-free. Nearly 90% of Twitter’s 2021 revenue came from ads.
And no ads. The power of corporations to dictate policy is greatly enhanced if Twitter depends on advertising money to survive.
— Elon Musk (@elonmusk) April 10, 2022
“Elon has decided not to join our board. I sent a brief note to the company, sharing with you all here,” Agrawal tweeted with a statement.
“The Board and I had many discussions about Elon joining the board, and with Elon directly. We were excited to collaborate and clear about the risks. We also believed that having Elon as a fiduciary of the company where he, like all board members, has to act in the best interests of the company and all our shareholders, was the best path forward. The board offered him a seat,” Agrawal said.
Elon has decided not to join our board. I sent a brief note to the company, sharing with you all here. pic.twitter.com/lfrXACavvk
— Parag Agrawal (@paraga) April 11, 2022
“Elon’s appointment to the board was to become officially effective on 4/9, but Elon shared that same morning that he would not be joining the board, Agrawal wrote in a reposted note originally sent to Tesla employees. I believe this is for the best,” he added.
Agrawal didn’t offer an explanation for Musk’s apparent decision. He said the company will be open to Musk’s “input” and he remains Twitter’s biggest shareholder.
Agrawal said there will be “distractions” ahead and asked the employees to stay focused. “There will be distractions ahead, but our goals and priorities remain unchanged. The decisions we make and how we execute is in our hands, no one else’s. Let’s tune out the noise and stay focused on the work and what we’re building.”