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Twitter rejects Elon Musk’s allied resignation from the board

May 27 (Reuters) – Twitter Inc (TWTR.N) said in a statement on Friday that they would not accept Egon Durban’s resignation from the board, two days after shareholders blocked his re-election at an annual meeting.

Durban is an ally of Elon Musk, which has offered to take Twitter privately in a $ 44 billion deal. read more

Twitter said Durban failed to receive support from a majority of the votes in the re-election held earlier this week due to “voting policies of certain institutional investors regarding control restrictions”.

Durban, which sits on the boards of six other companies, has agreed to reduce its board obligations to no more than five public company boards by May 25, 2023, Twitter said.

Silver Lake Partners, of which Durban is co-CEO, helped put together Musk’s $ 44 billion acquisition of Twitter, according to a file.

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Reporting by Nivedita Balu in Bengaluru; Editing Krishna Chandra Eluri and Shounak Dasgupta

Our standards: Thomson Reuters Trust Principles.

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