Elon Musk's Q&A with Twitter employees is cancelled after he declined board seat

Elon Musk is no longer hosting a question-and-answer session with Twitter Inc. employees this week since he isn’t taking a board seat at the social media company.

CEO of Tesla Motors Elon Musk and Amazon founder Jeff Bezos are seen on a screen on the trading floor at the New York Stock Exchange in Manhattan, New York City, U.S. (REUTERS)

Elon Musk is no longer hosting a question-and-answer session with Twitter Inc. employees this week since he isn't taking a board seat at the social media company. 

The world's wealthiest person was scheduled to join Twitter Chief Executive Officer Parag Agrawal, for an “ask-me-anything” meeting with Twitter staff after the company announced last week that Musk had acquired a stake of more than 9% and would join the board. 

But the meeting was canceled after Musk decided not to take a seat. Employees have the day off Monday for a regular, monthly day of rest the company provides. The break is well-timed as several people described the vibe as “super stressed,” with employees “working together to help each other get through the week.”

Twitter staff had mixed feelings about attending the session with Musk anyway. It might have clarified whether Musk had plans to be friendly or hostile with his stake, but it could also have raised further questions about how to react to his whims. In the past week, his ideas have ranged from striking advertising for Twitter's subscription service to turning part of its headquarters into a homeless shelter.

By inviting Musk to join the board and speak to the staff, Agrawal gave the impression that the relationship would be friendly. But the sudden change of heart over the seat ignited renewed speculation about Musk's intentions. By not joining the board, Musk is no longer subject to a standstill agreement that would have capped his stake at 14.9%.

Agrawal warned of “distractions ahead” in his note Sunday. One employee expressed concern that Musk was “just getting started, which is unfortunate.” Multiple employees described the situation as a “sh-t show.”