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According to the documents, Dorsey proposed that Musk join Twitter's board, but the board objected

via:新浪科技     time:2022/9/30 10:02:15     readed:258

Sina science and technology news Beijing time on September 30 morning news, according to reports, in the current Twitter and Elon Musk (Elon Musk) between the legal dispute before the public, Twitter former CEO Jack Dorsey (Jack Dorsey) hope Musk can join the company's board of directors. However, other directors did not support Dorsey's proposal, according to court documents released Thursday local time.

In a March 26 text message to Mr Musk, Mr Dorsey said: "The board is simply very risk averse and sees greater risk with your inclusion." A little more than a week later, Mr. Musk did announce his plans to join Twitter's board, but he did so by offering to buy the company.

Shortly after agreeing to buy Twitter for $44bn, Mr Musk reversed his decision again and tried to back out of the deal. Twitter is trying to force Musk to honor the deal through litigation. The trial is set for mid-October in Delaware Chancery Court.

In the redacted court filing, Dorsey said he thought the board's approach was "downright stupid and retrograde," but explained that his powers were limited because "I only have one vote, 3 percent of the company and no AB share design. It's a difficult situation."

Mr Dorsey and Mr Musk have been discussing Mr Dorsey's idea that Twitter should be an "open source agreement" run by a foundation, rather than a company. Musk replied that the idea was "very interesting."

Dorsey said he planned to "go do the work and right our wrongs" after he leaves Twitter's board in mid-May. He went so far as to say that becoming a company was Twitter's "original sin." Musk said, "If I can help, I'm happy to do it."

Mr Dorsey told Mr Musk that he wanted to talk to him about the idea again after he had "fully sorted it out" and that he had "tried to get Mr Musk on the board when there was an activist investor involved". But the board rejected the offer.

Dorsey did not specify the activist investor in question, but Twitter was embroiled in a dispute with activist investor Elliot Management in early 2020. At the time, Elliot founder Paul Singer decided that Dorsey running two companies, Twitter and Square (now renamed Block), would be problematic and tried to replace him. Twitter then struck a deal with Elliot and Silver Lake that allowed Dorsey to keep his job.

According to Dorsey, after the board rejected Musk's entry, "it was at that point that I made up my mind that I needed to leave, as hard as it was for me".

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