Twitter To Replace CEO After Four Years

Williams Babalola

After four years as the Chief Executive Officer of Twitter, an American investment management firm, Elliot Management Corp, has disclosed plans to push for the change of Jack Dorsey.

The firm, which has a sizeable stake in Twitter Inc., has reportedly nominated four new directors to come on Twitter’s board.

Reports have it that Eliott is trying as possible to nominates directors to fill in the only three vacant seats at this year’s annual meeting.

This push by Eliott is coming at a crucial time when major events or issues are coming into play like the U.S elections and the spread of the Coronavirus, which seems to attract more users and advertisers to Twitter.

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Twitter has been seen as a target for activist investors like Eliott for years due to the fact that the company only has one class of stock.

Unlike Facebook’s Mark Zuckerberg, co-founder Dorsey doesn’t have voting control of the company.

Recall that an investor in Twitter, Scott Galloway, had written a letter to the company’s Executive Chairman, Omid Kordestani, sharing his concerns last year.