Twitter CEO Jack Dorsey will stay on in his leading role, the social media platform’s board ruled after an activist investor’s bid to oust him
SAN FRANCISCO – Twitter’s board on Monday said Jack Dorsey will remain chief after a management review prompted by an activist investor’s effort to push him out of the job.
Twitter in March made a deal with key investors to end an effort to oust Dorsey, creating a new committee on the board of directors to keep tabs on company leadership.
The plan called for a fresh investment in Twitter by private equity group Silver Lake, and a pledge by the social media group to launch a $2 billion share repurchase plan.
The deal also enabled the hedge fund Elliot Management — which had been pressing to remove Dorsey — to get its partner Jesse Cohn a seat on the board of the…
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