Twitter’s Jack Dorsey Might Be Changed After Investor Takes Large Stake, Vows Modifications
Elliott Administration Corp. has taken a giant stake in Twitter Inc. and can push for modifications on the social media firm, together with changing Chief Government Officer Jack Dorsey, in accordance with a Bloomberg News report.
The agency has nominated 4 administrators for Twitter’s board, with three seats changing into accessible at this yr’s annual Twitter firm assembly. Elliott reportedly has had talks with Twitter’s prime executives about proposed modifications.
Representatives for Elliott and Twitter declined to remark to Bloomberg.
Twitter has lengthy been a goal for activist traders. Co-founder Dorsey doesn’t have voting management of the corporate like Fb Inc.’s Mark Zuckerberg, due to just one class of inventory. The corporate’s governance has been criticized for some time, as Dorsey can be CEO of Sq. Inc. The corporate’s inventory has been largely flat whereas different social media retailers have soared.
COPYRIGHT_BP: Published on https://bingepost.com/twitters-jack-dorsey-may-be-replaced-after-investor-takes-big-stake-vows-changes/47894/ by Cecilia Jones on 2020-02-29T17:46:57.000Z
