Elon Musk turns down Twitter board seat

New Delhi: Tesla CEO Elon Musk has decided not to join the Twitter board, CEO Parag Agrawal tweeted on Monday.

"Elon has decided not to join our board. I sent a brief note to the company, sharing with you all here," the Twitter CEO posted, sharing his note.

Agrawal said the company had many discussions with Elon Musk over joining the board. "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. I believe this is for the best," he wrote. "We were excited to collaborate and clear about the risks. We also believed that Elon as a fiduciary of the company where he, like all board members, has to act in the best interest of the company and all our shareholders, was the best path forward. The board offered him a seat."