The company said late Sunday that Musk would no longer join the board of directors.
On Tuesday, the company announced that Mr. Musk would be appointed to its board. On Monday, it was revealed that Mr. Musk had accumulated a 9.2 percent stake in the company. Mr. Musk agreed not to own more than 14.9% of the company's stock or take it over.
The situation had changed according to Parag Agrawal, the chief executive. Mr. Musk told the company that he would not be joining as a director. There was no reason given for the change.
We value input from our shareholders, whether they are on our board or not, and we will remain open, Mr. Agrawal said.
A spokesman for the company wouldn't comment on Mr. Agrawal's post. Mr. Musk didn't reply to the request for comment.
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