Twitter CEO Jack Dorsey is expected to step down

Twitter CEO Jack Dorsey is expected to step down

 

 

Twitter CEO Jack Dorsey is expected to step down from his executive role, sources tell CNBC’s David Faber.

Twitter stock jumped more than 11% on the news.

Dorsey currently serves as both the CEO of Twitter and Square, his digital payments company. Twitter stakeholder Elliott Management had sought to replace Jack Dorsey as CEO in 2020 before the investment firm reached a deal with the company’s management.

 

ALSO READ: ‘Hyperinflation’ will happen soon in the U.S. and the world, says Jack Dorsey

 

 

Elliott Management founder and billionaire investor Paul Singer had wondered whether Dorsey should run both of the public companies, calling for him to step down as CEO of one of them.

 

Twitter did not respond to a request for comment.

About The Author

Osigweh Lilian Oluchi is a graduate of the University of Lagos where she obtained a B.A (Hons) in English, Masters in Public and International affairs (MPIA). Currently works with 1stnews as a Database Manager / Writer. [email protected]

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