Elon Musk will NOT join Twitter’s board of directors according to a late-night tweet from the company’s CEO, Parag Agrawal.
Musk would have become a board member on Saturday, April 9, but apparently thought better of it. The seat came with severe restrictions – namely he would not be able to own more than 14.9% of the company making a lone hostile takeover impossible.
Musk taking a position on the board would also have made him a fiduciary with responsibilities to the company and Elon has plans to transform Twitter, not just make suggestions.
As reported earlier, Musk taking a board seat and a 9.2% stake would in no way allow him to force major change at Twitter. Perhaps Elon sees the obstacle a board seat poses.
What Musk does next is anyone’s guess, but if wholesale change at Twitter is his goal, ditching the board seat was a smart move.
Now, Agrawal’s chess clock is ticking and Musk has already planned his next move – whatever that is.
For whatever reason, Agrawal’s tweet won’t embed, so here’s a screenshot in case removal is planned:
Content created by Conservative Daily News and some content syndicated through CDN is available for re-publication without charge under the Creative Commons license. Visit our syndication page for details and requirements.
As the government shutdown drags into its fifth week, the root cause is becoming harder…
Schumer and the Democrats are denying SNAP benefits as leverage against Republicans during the Schumer…
It’s barely past 6 a.m. in New York, and the tape is already twitching. Dow…
Your paycheck doesn't exactly walk out the front door; it seeps away. Little dribbles here…
Schedule Summary: President Donald Trump will participate in a set of tele-rallies on Monday. President…