- Twitter Inc TWTR CEO Jack Dorsey may step down from his executive role, CNBC reports.
- Dorsey, an American billionaire technology entrepreneur, and philanthropist is the co-founder and CEO of Twitter. He is also the founder and CEO of Square Inc SQ, a financial payments company.
- Twitter stakeholder Elliott Management sought to replace Dorsey as CEO in 2020 before the investment firm reached a deal with the company’s management.
- Elliott founder and billionaire investor Paul Singer was against Dorsey running both public companies, calling for him to step down as CEO of one of them.
- Square shares jumped briefly on the news and are up 0.58% at $213.15 at press time.
- Price Action: TWTR shares traded higher by 7.41% at $50.58 on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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