Elon Musk won’t be joining the Twitter board of directors, CEO Parag Agrawal confirmed. 

Jack Dorsey’s successor posted a statement, saying: 

“Team,

Elon Musk has decided not to join our board. Here’s what I can share about what happened.

The Board and I had many discussions about Elon joining the board, and with Elon directly. We were excited to collaborate and clear about the risks. We also believed that having Elon as a fiduciary of the company where he, like all board members, has to act in the best interests of the company and all our shareholders, was the best path forward. The board offered him a seat.

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We announced on Tuesday that Elon would be appointed to the Board contingent on a background check and formal acceptance. Elon’s appointment to the board was to become officially effective 4/9, but Elon shared that same morning that he will no longer be joining the board. I believe this is for the best. 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 input.

There will be distractions ahead, but our goals and priorities remain unchanged. The decisions we make and how we execute is in our hands, no one else’s. Let’s tune out the noise, and stay focused on the work and what we’re building.”

Musk recently became a major Twitter shareholder, after acquiring 9% of the company. Since this investment, Musk has had some ideas including turning the San Francisco headquarters into a homeless shelter. He’s also floated plans for the Twitter Blue premium subscription, which includes lesser payment, no advertisements, and the option to pay using dogecoin cryptocurrency. 

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While Musk also polled followers about the edit tweet button, the feature was already in the works before the Tesla and SpaceX CEO invested in the social media company.