The social media giant’s CEO, Parag Agrawal, said Sunday night that Musk declined the board appointment Saturday, the same day it was set to begin.
The whole saga got me thinking about public company board appointments and Musk’s possible motivations to join Twitter leadership.
Public company boards work a little differently from those of private companies, since they have to adhere to SEC and other guidelines.
“In this case, the fact that Elon bought a stake in Twitter didn’t involve, per se, any direct implication on his appointment as a director,” Bonini said.
Large shareholders are often appointed to boards, as we frequently see with private companies.
Now that Musk won’t be serving on the board, that share cap doesn’t apply to him, Solomon noted.
“He’s probably thinking, ‘If I can have a controlling interest in the No.
Bonini echoed that thought.