After last week's announcement that Tesla, Inc. (TSLA) Chief Executive Officer (CEO) Elon Musk would join Twitter, Inc.'s (TWTR) board as a Class II Director and will serve for a term of two years, Twitter's CEO Parag Agrawal declared that Musk will not join the board. The news also comes after 澳洲幸运5官方开奖结果体彩网:Musk acquirཧed 9.2% of Twitter stock and after debates on whether Twitter should include an edit button for its tweets.

Twitter's shares fell 8% in 澳洲幸运5官方开奖结果体彩网:pre-market trading after the news. Elon Musk's term would have started on April 9 after a formal acceptance and a background chℱeck. He will continue to be the largest shareholder of Twitter.

Elon Musk has frequently used Twitter to communicate to Tesla's shareholders and has faced inquiries from the 澳洲෴幸运5官方开奖结果体彩网:Securities and Exchange Commission (SEC) about his adherence to the SEC's rules regarding disclosure controls and procedures for communicating information that was of ma𒁃terial interest to investors.

The specific reason why Musk will not join Twitter is unclear. Earlier, Musk had announced that he was seriously considering starting his own social media platform on the grounds the Twitter did not foster free speech. It remains to be seen if Musk will turn back to his earlier plans now that he will no longer be entering Twitter's boardroom.