Hedge fund Elliott Management wants to remove Twitter CEO Jack Dorsey

Hedge fund Elliott Management wants to remove Twitter CEO Jack Dorsey


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.

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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.


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