Departure of Jack Dorsey From Twitter Leadership

Manager who tried to oust Jack Dorsey in 2020 celebrates change in Twitter leadership.

Social network confirmed in the early afternoon the departure of Jack Dorsey from the command of the company he founded.

Investment manager Elliott Investment celebrated the change in leadership on Twitter announced this Monday (29). One of the main activist caucuses on Wall Street, Elliott had already tried to remove Jack Dorsey from the helm of the company in 2020, before reaching an agreement with the company.

Twitter is now executing an ambitious multi-year growth plan to dramatically increase the company’s value and reach,” write partners Jesse Cohn and Marc Steinberg, in a statement.

“Knowing the new Chairman of the Board, Bret Taylor, and the new CEO, Parag Agrawal, we are confident they are the right leaders for Twitter at this important time for the company,” they continue.

Last year, Elliott withdrew its campaign to oust the Twitter founder from the company after a deal where it can nominate two members.

Last year, Elliott backed out of its campaign to oust the Twitter founder from the company after a deal where it can appoint two members to the company’s board and start a $2 billion share buyback program.

Earlier in the afternoon, Twitter confirmed the departure of Jack Dorsey from the command of the company he founded. He will continue as a member of the board until the next board meeting, scheduled for 2022.

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