Twitter's largest shareholder, billionaire Tesla and SpaceX founder Elon Musk, has decided not to join the company's board, the social media company's chief executive, Parag Agrawal, says.
He was to join the company's board, but has now decided not toMr Musk, who has previously called himself a "free-speech absolutist" and has been critical of Twitter, disclosed a 9.1 per cent stake in the social media giant earlier this month, and said he planned to bring about significant improvements at the company.
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 per cent of common stock. However, "Elon shared that same morning that he will no longer be joining the board", Mr Agrawal said in a note on Twitter."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," Mr Agrawal said.Tesla did not immediately respond to an email sent to the company seeking a comment from Mr Musk.
Before taking a stake, Mr Musk ran a Twitter poll asking users if they believed Twitter adheres to the principle of free speech.
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