Hedge fund Elliott Management wants to remove Twitter CEO Jack Dorsey

Hedge fund Elliott Management wants to remove Twitter CEO Jack Dorsey

[ad_1]

Activist investor Elliott Management is seeking to oust Twitter CEO Jack Dorsey, Bloomberg News reported late Friday. 

The $40.2 billion hedge fund run by Paul Singer has taken a major stake in the social media company and is urging changes, people familiar with the matter told the news outlet.

Twitter declined to comment. Elliott Management could not immediately be reached for comment.

According to Bloomberg News, Elliott Management has nominated four directors to Twitter’s board.

Dorsey has drawn scrutiny for running two publicly traded companies: Twitter and Square. He also said he plans to work up to six months a year in Africa.

Platform manipulation:Twitter suspends 70 pro-Michael Bloomberg accounts citing its ‘platform manipulation’ rule

Election 2020:Twitter says deceptively doctored videos and photos may get labeled or removed

Dorsey’s split attention is one of the reasons Elliott Management is pushing to remove him, a source told CNBC. Twitter and Square each have market valuations of more than $5 billion.

[ad_2]

Source link

Published
Categorized as Top Stories

By Javier Manning

Javier has been in the field of content writing for almost 8 Years as he hails from the Biotechnology background. The edifying articles portray her craving towards language. His keen hobby of reading technological innovations related books or articles has sown the seed of being a well-versed editor with the current scenario of numerous industry verticals. He is one of the valuable assets to this publication. The Industry News Press has awarded him with a senior editors post based on his skillful performance to date.