Elon Musk Decides Not to Join Twitter Board, CEO Parag Agrawal Reveals

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Elon Musk Decides Not to Join

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Board, CEO Parag Agrawal Reveals

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’s biggest shareholder, Elon Musk, has decided not to join its board, Chief Executive Parag Agrawal said late on Sunday.

Musk, who calls himself a free-speech absolutist and has been critical of

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, disclosed a 9.1 percent stake on April 4 and said he plans to bring about significant improvements at the social media platform.

His appointment to the board was to become effective on Saturday and would have prevented him from being a beneficial owner of more than 14.9 percent of common stock.

But “Elon shared that same morning that he will no longer be joining the board”, Agrawal said in a note on

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.

“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,” Agrawal said.

Tesla did not immediately respond to an email sent to the company seeking a comment from Musk.

News of Musk taking a board seat had some

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employees panicking over the future of the social media firm’s ability to moderate content, company insiders told Reuters.

Before taking a stake, Musk ran a

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poll asking users if they believed

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adheres to the principle of free speech.

Free speech is essential to a functioning democracy.

Do you believe

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rigorously adheres to this principle?

— Elon Musk (@elonmusk)

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A day after becoming the largest shareholder, he launched another poll asking users if they want an edit button, a long-awaited feature on which the social media platform has been working.

Do you want an edit button?

— Elon Musk (@elonmusk)

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The Tesla boss also asked users in a poll if

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’s headquarters should be converted into a homeless shelter, a plan backed by

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’s founder Jeff Bezos.

On Saturday, he suggested changes to

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Blue premium subscription service, including slashing its price, banning advertising, and giving an option to pay in the cryptocurrency dogecoin.

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shares, which soared 27 percent on April 4 after Musk disclosed his stake, has lost 7.5 percent since then to Friday’s close.

“There will be distractions ahead, but our goals and priorities remain unchanged,” Agrawal said in his Sunday note. “Let’s tune out the noise, and stay focused on the work and what we’re building.”

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elon musk

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,parag agrawal,

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#Board #CEO #Parag #Agrawal #Reveals

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