Elon Musk Will No Longer Join Twitters board

Elon Musk recently backed out of his agreement to join the board for social media company Twitter. Musk was set to join the board on April 9, after completion of a background check and formal acceptance. Musk announced his decision to not join on April 5.

Twitter CEO Parag Agrawal does not disclose why Musk decided to turn down the opportunity, but reassures that Musk is still Twitter’s largest shareholder. Agrawal also is still open to any and all input Musk has to offer for the company.

A financial statement from Twitter revealed that if Musk was on the board, he would be permitted from owning more than 14.9% of the company’s stock outstanding. Agrawal believes Musk’s departure was “best for the company