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May 27 (Reuters) – Twitter Inc (TWTR.N) said in a filing on Friday 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
Soccer Football – Premier League – Manchester City v Chelsea – Etihad Stadium, Manchester, Britain – November 23, 2019 – Silver Lake Managing Director Egon Durban in the stands REUTERS/Andrew Yates
Twitter said Durban failed to receive the support of a majority of the votes in the re-election held earlier this week due to “voting policies of certain institutional investors regarding board service limitations”.
Durban, who serves on the boards of six other companies, has agreed to reduce his 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 put together Musk’s $44 billion acquisition of Twitter, according a filing.
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Reporting by Nivedita Balu in Bengaluru; Editing by Krishna Chandra Eluri and Shounak Dasgupta
Our Standards: The Thomson Reuters Trust Principles.
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