Twitter Refuses To Let Go Board Member Egon Durban - Read Why

Twitter, Inc TWTR refused to remove Silver Lake co-CEO Egon Durban from its board after failing to win the support of the necessary majority of Twitter investors.
The board considered Durban a highly influential member bringing an unparalleled operational knowledge of the industry, a unique perspective, and an invaluable skill set and experience with mergers and acquisitions.
Leading shareholder advisers, Institutional Shareholder Services (ISS), and Glass Lewis were concerned that the private equity investor represented too many boards, the Financial Times reports.
Durban was one of the first people Elon Musk contacted alongside Twitter co-founder Jack Dorsey after acquiring a stake in Twitter.
Durban holds a seat on seven public boards, ISS said.
Twitter decided to withhold his resignation after he agreed to reduce his board commitments to no more than five public company boards by May 25, 2023.
Durban’s other board commitments include Manchester City football club parent, Endeavor talent and media agency, Unity Technologies gaming platform, and former Alphabet Inc GOOG GOOGL Google self-driving car business Waymo.
Price Action: TWTR shares traded higher by 2.11% at $40.36 on the last check Friday.
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