Skip the deal that would have guaranteed? Elon Musk a chair in the Board of Directors of Twitter This means that the Tesla founder can continue to buy shares in the company undisturbed, well above the 14.9% he would be tied to by appointment to the Board of Directors.
So Elon Musk could now seriously consider acquiring an even bigger share of Twitter and thus gain an even more decisive influence over the company. This last scenario would worry many staff and business leaders, who now fear Musk could fundamentally change Twitter from within.
An article in the NY Post with the telling title “Twitter ‘as – t-show’ for employees since Elon Musk took major interestReporters from the Murdoch newspaper spoke to several Twitter employees, all of whom described the same nightmare climate: resigns from the Executive Board proof that this is just the beginning, Musk wants to change Twitter,” explains one of the interviewees.
A week ago, the media revealed that Elon Musk had bought more than 9% of Twitter’s shares, effectively making him the company’s largest shareholder. The following day, it was revealed that Twitter’s CEO, Parag AgrawalElon Musk had offered to join the company’s board of directors, a role he would have held until at least 2024.
On the one hand, Elon Musk would have had the opportunity to influence Twitter from within, with an institutional role, on the other hand, the company’s other shareholders and executives would have received assurances in return that Musk would not have scaled Twitter by gaining majority control. . In fact, the agreement provided Musk foregoing from acquiring more than 14.9% of the company’s stock.
Much to the surprise of the media, Musk and Agrawal announced Monday that the deal had been blown. Officially because Musk couldn’t handle such an assignment, given his current commitment to… Tesla and SpaceXbut already at that moment – within his breath – there were those who suggested that probably the death of the agreement hid something else.
Without the deal, Elon Musk would no longer have his hands tied and could get a majority of Twitter, or at least a higher stake that would give him more leverage — including the ability to change the company’s current executives and change the rules with more impact. of the social network.
In view of Musk’s board membership, which was taken for granted by the company’s executives, Twitter also arranged a meeting between the Tesla founder and Twitter employees precisely to clarify any ambiguities and allay any fears. The meeting has been officially canceled and will no longer be held.
An analyst interviewed by the NY Post invites us to prepare for the worst: “You’ll see, it’s going to be a battle in style Game of Thrones to check Twitter,” he said. This uncertainty about the company’s future – the NY Post article continues – has in fact led to a enormous stress among company employeeswho now fear that Twitter could become a very different workplace than they know.
Source: Lega Nerd
