Elon Musk decides not to join Twitter’s board

The Chief Executive Officer (CEO) of Twitter, Parag Agrawal announced that the Chief Executive Officer of Tesla, Elon Musk will not be joining the Board of the microblogging platform. Recently, Elon Musk acquired a stake of 9.5 in Twitter. Previously, it was reported that Elon Musk was being appointed as a Director on Twitter’s Board. However, on the day of the appointment, he refrained from joining it. This month, the shares of the social media platform are up by 18%.

On the day, when Musk acquired the stake, its shares surged as much as 29%. Surprisingly, while Agrawal has been publicly welcoming of Musk’s appointment to the board of the company, he also told that the declination of the offer by Musk is “for the best”. Mr. Agrawal also sent out a memo in which he stated that the decisions and their execution is in Twitter’s hands, no one else’s. Recently, Musk has suggested some changes for Twitter, like the edit button, and Twitter Blue, a premium service that gives access to certain features and customizations not available to other users. He also said that the headquarters of the company should be turned into a homeless shelter as no one works from there.