Elon’s participation in the board was supposed to be made official on April 9, but he said the same morning that he no longer intended to join the board.
“I believe this is the best. We appreciate and will always appreciate the contribution of our shareholders whether they are on our board or not. Elon is our largest shareholder and we will remain open to his contribution,” Agrawal tweeted Sunday night.
A Twitter spokesman confirmed that Musk had decided not to join the board of directors.
Musk’s decision comes about a week after Twitter announced in a submission to the regulator that it plans to appoint CEOs of Tesla and SpaceX to its Board of Directors with a term ending in 2024.
Elon Musk recently revealed that he bought more than a 9.0 percent stake in Twitter, making him the company’s largest shareholder. As part of an agreement to get a seat on Twitter’s board, Musk agreed not to buy more than 14.9 percent of the company’s shares while on the board.
