Twitter’s top stakeholder Elon Musk won’t be joining the board, company’s chief executive officer Parag Agarwal said on Monday. In a statement posted on Twitter, Agrawal said that the board offered him a seat after several discussions and believed that Musk as a fiduciary of the company was the best path forward.
He added that Musk’s “appointment to the board was to become officially effective” on April 9 but the billionaire investor shared the “same morning that he will no longer be joining the board”.
“I believe this is for the best. We have and will always value input from our shareholders whether they are on our Board or not. Elon is our biggest shareholder and we will remain open to his input,” the statement read.
“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,” he added.