Twitter’s Chief Executive Officer says Elon Musk is no longer joining the board of directors.
The company made the reversal less than a week after announcing the Tesla chief would be appointed.
Musk was named to join the Twitter board after buying a major stake in the firm and becoming its largest shareholder.
“Elon has decided not to join our board,” Twitter CEO Parag Agrawal tweeted.
“Elon’s appointment to the board was to become officially effective 4/9, but Elon shared that same morning he will no longer be joining the board,” Agrawal said.
“I believe this is for the best.”
Agrawal had announced on Tuesday that Musk would be joining the board, describing him as “a passionate believer and intense critic of the service which is exactly what we need”.
Musk himself tweeted that he was “Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!”
Currently, the world’s richest man and with more than 80 million followers on the microblogging platform, Musk last week disclosed the purchase of 73.5 million shares – or 9.2 percent – of Twitter‘s common stock.
