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Elon Musk’s ally resigns from Twitter’s board, but company refuses

Twitter said in a market statement on Friday that it did not accept Egon Durban’s resignation from the company’s board of directors, two days after shareholders blocked his re-election.

Durban is allied with Elon Musk, who has offered to buy Twitter for $44 billion.

Twitter said Durban did not receive majority support in the re-election held earlier this week due to “voting policies of certain institutional investors related to limitations on providing services to boards of directors”.

Durban, which serves on the boards of six other companies, has agreed to reduce its service commitments to no more than five publicly traded company boards by May 25, 2023, Twitter said.

Silver Lake Partners, where Durban is co-CEO, helped plan the acquisition of Musk by Twitter.

Source: CNN Brasil

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