Twitter Shares Jump On CNBC Report Of CEO Jack Dorsey Stepping Down

November 29, 2021 9:45 AM | 1 min read |

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.