Tesla CEO Elon Musk will not join the Twitter team

Twitter CEO Barack Agarwal tweeted the news on Sunday night.

“Elon’s appointment to the board was officially 4/9, but on the same morning Elon shared that he would no longer be joining the board,” Agarwal said. Said in a tweet. “I hope this is the best. We will always value their contributions to our partners, whether they are on our board or not. Elon is our largest partner and we will be open to his input.”

A Twitter spokesman confirmed that Musk had decided not to join the Twitter group and cited Agarwal’s statement.

The growth comes less than a week after Tesla and the founder of SpaceX announced the acquisition of a 9% stake in the company. Twitter (TWTR) Said in File a regulation That Plans to appoint Musk to his team for a term ending in 2024.

Musk tweeted on Tuesday, “I look forward to working with Barrack & the Twitter team to make significant improvements on Twitter in the coming months!” And Twitter founder Jack Dorsey said Musk and Agarwal would form “an incredible team”. Twitter’s share soared after his initial purchase was announced.

As part of his agreement to join the group, Musk promised not to buy a 14.9% stake in the company during his tenure. Some corporate personality experts have suggested that the move could be a way to curb Muskin’s influence over the company. Now, that limit is no longer in place, and the acquisition of Twitter’s shares opens the door for Musk to take a more aggressive stance.

In his tweet announcing Muskin’s reversal on Sunday night, Agarwal said the company’s board “believes everyone has the company’s credibility. The best way forward.”

Corporate team members also generally share their recommendations for the company privately, which means Musk will have to stop tweeting about his ideas for Twitter. After he released a series of tweets about the company over the weekend, it was announced that Musk would no longer be joining the group, in which he suggested removing the “w” from “Twitter” – a blatant crude joke. – and Another In it he asked if Twitter was “dying” because some of its more-followed accounts did not tweet as often.

“In our opinion, the Twitter board and Musk could not come to an agreement about interacting with the general public (various polls) on Twitter because he may still need to take a back seat / quiet stance as part of joining the board,” Whitebush analyst Dan Ives said in an investor note on Monday. He said Musk’s relationship with Twitter could now turn into a “game of drones” war between Musk and Twitter, and that Elon was more likely to take a more hostile stance on Twitter and further develop his active role in the company.

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It is unknown at this time what he will do after leaving the post. In recent weeks, Musk has suggested that free speech on Twitter should not be allowed, and that its algorithm should be made open source. He held a poll last week to ask his followers “whether to edit the button”, which is a long-standing feature request, if not a separation from many Twitter users. (Twitter said last week that it has been working on the edit feature for the past year.)

Musk did not tweet about his decision. CNN has approached the business Tesla (DSLA) For feedback.

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