esla CEO Elon Musk will no longer join Twitter‘s board directors as previously announced, however billionaire remains the largest shareholder of the social networking platform.
Twitter CEO Parag Agraval tweeted the news that followed the weekend when Mr Musk suggested possible changes to Twitter, including making the site free of advertising. Nearly 90 percent of Twitter’s revenue in 2021 came from advertising.
“Ilona’s appointment to the board was due to take effect on 4/9, but that morning Elon said he would not be on the board,” Mr Agraval wrote in a re-published note originally sent to Tesla.
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Mr Agraval did not offer an explanation for Mr Mask’s explicit decision, although he did release one serious hint.
The Twitter board “believed that Elon as the company’s trustee, where he, like all board members, should act in the interests of the company and all our shareholders, was the best way forward,” he wrote.
On Sunday at 9.30pm Musk tweeted a smiley face with round eyes and a hand over his mouth. The symbol is often used to express embarrassment or restrained laughter, sometimes with a tinge of “Oh!”
It was unclear what Musk meant by the tweet, and he did not specify this.
Elon Musk is no longer on the board of directors of Twitter
