If attendees at Twitter’s annual shareholder meeting expected Elon Musk’s acquisition of the company to clear up any confusion, they were likely disappointed. Despite numerous questions about Twitter’s future, executives had little to say about Musk, who was not present at the meeting.
During the meeting, CEO Parag Agrawal stated, “We’re working through the transaction process.” The deal’s status has been somewhat ambiguous since Musk announced that it was “on hold” due to his concerns about bots on the platform. Twitter executives have stated that their plans are still on track.
“Even as we work towards closing this transaction, our teams and I remain focused on the important work we do every day to serve the public conversation,” Agrawal said.
Twitter had previously stated that it would not answer questions about Musk’s acquisition of the company, which must be formally approved by Twitter stockholders at a later date. Nonetheless, shareholders attempted to persuade Twitter executives to address the issue.
The first question in the meeting’s Q&A session was about what would happen to Twitter shareholders’ stock if “someone” bought the company and took it private. “We are unable to address these questions today,” Twitter General Counsel Sean Edgett said, directing people to the company’s previous SEC filings.
Shareholders also expressed concerns about the company’s content moderation policies in the future. According to Agrawal, the company is “focused” on maintaining its current policies and “reducing our reliance on user reports.”
Though he did not directly address Musk’s comments about loosening its rules, he did state that “silencing political commentary is antithetical to our commitment to free speech.”
The meeting also marks the end of Twitter co-founder Jack Dorsey’s tenure. He resigned as CEO in November but remained on the board of directors until the meeting. It was unclear who would succeed him, as with much of Twitter’s future.