Investors shrugged off Musk's reversal over joining Twitter's board, but he and the company itself both signaled the commotion likely isn't finished
y the end of last week, when some of the initial dust around Elon Musk’s arrival as Twitter new largest shareholder had settled, Twitter employees tried to approach the situation with some gallows humor.
“Everyone was trying to crack jokes about it,” says a person at Twitter who viewed the chats. “But then it’s like, ‘OK, whatThat’s still not particularly clear because there’s quickly been several more twists in the corporate drama, which has proven surprisingly topsy-turvy in a short amount of time.his 9.2% stake company last Monday, Twitter CEO Parag Agrawal a day later said Musk would join the board, a move that unnerved some Tweeps.
Unlike other situations where an aggressive shareholder might ride in and hope to shake up a company through private board meetings and backroom deals, Musk offered front-row seats to the world, a startingly break with typical corporate protocol. In fact, he offered average Twitter users a chance to get in on the action directly. Musk released two polls last week to his 81 million followers, one about whether they wanted an editing function and another about changing the company name.
Agrawal, who had worked with founder Jack Dorsey to publicly embrace Musk last week and shares some common ideas with the pair about decentralizing some power over social media, notified Twitter employees about the U-turn decision Sunday evening. He also published a version of his note on Twitter, and the company has cancelled a planned Q&A session between Musk and Twitter employees.
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