Elon Musk’s Twitter account is seen on a smartphone in front of the Twitter logo in this photo illustration taken on April 15, 2022. REUTERS / Dado Ruvic / Illustration
Register now for FREE and unlimited access to Reuters.com
Sign up
May 27 (Reuters) – Twitter Inc. (TWTR.N) said in a statement on Friday that it 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, who has offered to take Twitter private in a $ 44 billion deal. Read more
Twitter said Durban did not receive the majority of votes in the re-election held earlier this week due to “the voting policies of certain institutional investors regarding the limitations of the council’s service.”
Durban, who serves on the boards of six other companies, has agreed to reduce its board service commitments to no more than five public company boards by May 25, 2023, Twitter said. .
Silver Lake Partners, where Durban is co-CEO, helped raise Musk’s $ 44 billion acquisition of Twitter, according to a document.
Register now for FREE and unlimited access to Reuters.com
Sign up
Report by Nivedita Balu in Bangalore; Edited by Krishna Chandra Eluri and Shounak Dasgupta
Our standards: Thomson Reuters’ principles of trust.