Musk Rejects Twitter’s Offer to Join Board in Surprise Twist (1)

Twitter Inc.’s shares slid after Elon Musk decided not to join its board, a stunning twist to a week-long saga that has captivated the tech community and touched off renewed speculation about the company’s future.

Musk held “many discussions” with Twitter’s directors but the entrepreneur ultimately declined their offer of a board seat, Chief Executive Officer Parag Agrawal tweeted. According to the CEO, Musk informed Twitter of his decision April 9, the same day he was slated to formally join the board.

Twitter shares fell about 2.9% in pre-market trading on Monday in New York. The drop erases part ...