Twitter director Egon Durban won’t leave the board

Twitter director Egon Durban won’t leave the board, even though he offered to resign after shareholders voted to boot him from the position, the company said in a regulatory filing Friday.

Twitter said its board believes Durban failed to receive shareholder support because of his director role on several other public company boards. Twitter noted Durban serves on the board of six other publicly traded companies but said he agreed to reduce the number of public company boards he serves on to five by May 25, 2023.

“While the Board does not believe that Mr. Durban’s other public company directorships will become an impediment if such engagements were to continue, Mr. Durban’s commitment to reduce his board service commitment to five public company boards by the Remediation Date appropriately addresses the concerns raised by stockholders with regard to such engagements,” the company said in the filing. “Accordingly, the Board has reached the determination that accepting Mr. Durban’s Tendered Resignation at this time is not in the best interests of the Company.”

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