Jack Dorsey will remain Twitter’s CEO
Emailed on March 13th 2020 in The Friday Forward
Jack Dorsey will remain Twitter’s CEO as part of a deal the company reached with Elliott Management, an activist investor firm that, for the past two weeks, has been trying to push Dorsey out as part of an overhaul to Twitter’s business.
The deal sees Twitter committing to buy back $2 billion worth of stock. It’s also naming two new board members: one from Elliott Management and one from Silver Lake, an investment firm that’s putting $1 billion into Twitter to fund the buybacks.
The announcement indicates that Dorsey is sticking around for the time being, but it also suggests that the board will look into when it would be appropriate to move to a new CEO.
