Oops, Elon Musk Failed to Become a Twitter Director! What is the reason?
Elon Musk has officially turned down Twitter’s proposal to join the board of directors. However, the Tesla CEO did not explain the reason why he ignored the ‘golden’ opportunity.
Elon Musk’s name had indeed become a byword, because his actions bought up 9.2 percent of Twitter shares. In this way, Elon Musk automatically becomes the largest shareholder in Twitter.
He was also briefly offered to serve on Twitter’s board of directors by Twitter’s CEO, Parag Agrawal. However, he decided to turn down the offer.
Fix, Elon Musk Fails to Join Twitter’s Board of Directors
This news was obtained after Parag Agrawal announced via his account Twitterif Elon Musk does not join Twitter’s board of directors. Suddenly, the tweet went viral in cyberspace.
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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 Musk has decided not to join Twitter’s Board of Directors,” Agrawal wrote.
From his statement, Elon Musk’s appointment as director has actually occurred since April 9, but on the same day he canceled the proposal for reasons that were not stated.
“Elon’s appointment to the board of directors will be officially effective on April 9. But on the same morning (9/4), Elon said that he would not be joining Twitter’s board of directors,” explained Agrawal.
However, he judged that this decision was the best for both parties. Nor does he blame Elon Musk and will always respect Elon Musk’s input, as he remains the largest shareholder in Twitter.
“I believe this is for the best. We will always value input from our shareholders whether or not they are on the board of directors. Elon is our largest shareholder and we will remain open to his input.”
Initially, Elon Musk was projected to become Twitter’s director and serve until 2024. This statement was obtained through a filing document written by the United States Securities and Exchange Commission (SEC).
“The company will appoint Musk to the Company’s Board of Directors to serve as a class II director, with a term ending at the Company’s 2024 Annual Meeting of Shareholders,” he wrote.
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But what can I say, it turns out that the richest man in the world refuses and prefers to become the majority shareholder. FYIthe stake that Elon Musk owns in Twitter currently amounts to Rp. 3.3 trillion, beating Jack Dorsey who incidentally is the founder and former CEO of Twitter.
