Elon Musk will no longer serve on Twitter’s board of directors, according to the company’s CEO

Elon Musk will no longer be a member of Twitter’s board of directors, according to the company’s CEO, Parag Agrawal.

Mr Musk’s appointment was set to take effect on Saturday, after his announcement last week that he had purchased a 9.2% stake in the social media network.

Mr Agrawal, on the other hand, tweeted that “Elon shared that same morning that he will no longer be joining the board.”

Tesla CEO Elon Musk is Twitter’s largest shareholder, and the company would continue to welcome his input, he said.

Mr Musk cryptically tweeted a single emoji just over an hour after Mr Agrawal’s revelation.

Mr Musk proposed improvements to Twitter Blue’s premium membership service over the weekend, including lowering the price, prohibiting advertising, and allowing users to pay in the cryptocurrency dogecoin.

Mr Musk recently questioned his 81 million Twitter followers if Twitter was “dying” and if the company’s headquarters should be converted into a homeless shelter.

He also made a poll asking if the letter “w” should be deleted from Twitter, with just “yes” and “of course” as answers.

Mr Agrawal said Mr Musk was offered a position on Twitter’s board because the business thought it was “the greatest way ahead,” with board members required to “act in the best interests of the company and all our shareholders.”

“I feel this is for the best,” Mr Agrawal said of Mr Musk’s decision.

“We have always valued and will continue to value feedback from our shareholders, whether or not they are on our board,” he said.

“Elon is our largest shareholder, and we will continue to listen to his suggestions.”