Home Headlines Twitter CEO Jack Dorsey to step down – source
Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Twitter CEO Jack Dorsey to step down – source

by jcp
gawdo

By Greg Roumeliotis

(Reuters) -Twitter Inc Chief Executive Officer Jack Dorsey will step down from his role and a successor has been lined up, a person familiar with the matter told Reuters.

The company’s board has been preparing for Dorsey’s departure since last year, the source said.

The news comes as Twitter has accelerated the pace of its product innovation over the past year to compete with social media rivals such as Facebook Inc and TikTok, and to reach its goal of doubling annual revenue by 2023.

Twitter was not immediately available for comment.

Shares of the microblogging platform surged 9% in early trading, while those of digital payments firm Square Inc, of which Dorsey is also chief executive, were up 3%.

Trading in the shares was then suspended ahead of an expected announcement.

In his latest tweet on Nov. 28, Dorsey said https://twitter.com/jack/status/1464865985471471616: “I love twitter”. The “likes” on that tweet surged to more than 54,000 on Monday.

CNBC was first to report Dorsey’s move.

In early 2020 https://reut.rs/3E6Nfvh, Dorsey faced calls from Elliott Management Corp to step down, after the hedge fund argued THAT he was paying too little attention to Twitter while also running payments processing company Square Inc.

Dorsey fended off the pressure by giving Elliott and its ally, buyout firm Silver Lake Partners, seats on Twitter’s board.

(Reporting by Greg Roumeliotis in New York and Subrat Patnaik in Bengaluru; Editing by Shinjini Ganguli and David Clarke)

www.gawdo.com

You may also like