Elon Musk quits joining Twitter board

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

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Elon Musk, boss of Tesla and SpaceX, will ultimately not join Twitter’s board of directors. His arrival “was to become officially effective on April 9, but Elon made it known that same morning that he was no longer joining 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 whimsical billionaire and the platform. “We have enjoyed and will always appreciate the participation of our shareholders, whether they serve on our board or not.”

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

Parag Agrawal, Managing Director of Social Network

message to Twitter employees

The richest man in the world first announced in early April that he had taken a 9.2% stake in the capital of Twitter, making him the largest shareholder. He first specified in the document sent to the stock market regulator that he did not intend to influence major strategic decisions. He had also undertaken not to increase his stake beyond 14.9%. Subsequently, the announcement finally of his entry to the board of directors had been applauded by the markets. Investors saw it as a sign that the billionaire was finally planning to get involved in the group’s strategy.

Since the announcement of his entry into the capital, Elon Musk has multiplied the provocations. In particular, he conducted a poll to ask if Twitter users wanted an “edit” button, to correct a tweet after publication. On Saturday, he wondered if the social network was “dying”, mentioning 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 since nobody goes there anyway”. He then proposed changes to the paid subscription plan 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 no one else’s.”, Parag Agrawal said in his message to employees. Several Twitter employees had expressed their concern, according to the washington post (in English)believing in particular that the values ​​of the richest man in the world were not aligned with the corporate culture of the social network.

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