Billionaire entrepreneur Elon Musk has decided not to join Twitter's board of directors after having purchased a 9.2% stake in the social media platform, making him its largest shareholder.
Twitter CEO Parag Agrawal announced Sunday that Musk has decided not to join the board, a message Musk shared with the board Saturday, the day Musk's board membership was set to become official.
"I believe this is for the best," Agrawal wrote. "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 output."
At the time of the initial announcement that Musk would join the board, Agrawal and outgoing board member and former CEO Jack Dorsey praised the Tesla founder and welcomed his input.
