Twitter In Peace Deal With Activist Investor Elliott Management: Jack Dorsey To Stay CEO, Silver Lake Invests $1B
Twitter mentioned Monday it has entered right into a cooperation settlement with Elliott Administration, an activist funding agency that had been urgent for adjustments together with the attainable ouster of CEO Jack Dorsey. Dorsey will hold his job and Twitter right this moment introduced that funding agency Silver Lake, will make a $1 billion funding within the social media platform.
Elliott owns roughly 4% % of Twitter’s frequent inventory.
Twitter expects to make use of Silver Lake’s funding, along with money available, to fund a $2 billion share repurchase program that can be executed over time.
In reference to the funding and the agreemet, Egon Durban, co-CEO and managing associate of Silver Lake, and Jesse Cohn, associate at Elliott, can be appointed to the Twitter Board of Administrators. As well as, the Twitter Board will proceed the method of figuring out a 3rd new unbiased director, specializing in candidates that replicate the variety of the Twitter service and likewise possess deep expertise and AI experience.
Associated Story
COPYRIGHT_BP: Published on https://bingepost.com/twitter-in-peace-deal-with-activist-investor-elliott-management-jack-dorsey-to-stay-ceo-silver-lake-invests-1b/55657/ by Cecilia Jones on 2020-03-09T13:38:46.000Z
[
SXSW Cancellations: Paramount Network, Comedy Central, ICM Partners Latest To Exit Over Coronavirus Concerns
](https://deadline.com/2020/03/sxsw-2020-cancellations-list-twitter-facebook-1202872882/)
[
Patrick Pichette, lead unbiased director of the Twitter Board, mentioned, “Twitter has undergone exceptional change over the past a number of years. We’re deeply happy with our accomplishments and assured we’re on the suitable path with Jack’s management and the chief staff. As a Board, we usually assessment and consider how Twitter is run, and whereas our CEO construction is exclusive, so is Jack and so is this Firm. To proceed to make sure robust governance, we’re happy to create a brief Board committee that can construct on our common analysis of Twitter’s management construction. This committee, which I’ll chair, will present a contemporary take a look at our varied buildings, and report the findings to our Board on an ongoing foundation. In an atmosphere the place certainty is scarce, I can say with certainty that right this moment we’ve got taken steps to meaningfully strengthen what’s already a world-class Board.”
](https://deadline.com/2020/03/sxsw-2020-cancellations-list-twitter-facebook-1202872882/)
