Activist hedge fund Elliott Management has laid out concerns over Twitter’s corporate governance to the social network’s board and is pushing for the removal of its chief executive Jack Dorsey after taking a stake of more than $1bn in the social media company. The New York-based fund has taken issue with Mr Dorsey simultaneously holding the CEO title at both Twitter and Square, the fintech company he also co-founded, according to people familiar with the matter. The $38bn firm has flagged leadership issues with Twitter’s board of directors, said people familiar with its thinking, stemming from a CEO it believes is distracted with other activities and a high turnover rate among senior operating and financial executives. Read More...
Activist hedge fund Elliott Management has laid out concerns over Twitter’s corporate governance to the social network’s board and is pushing for the removal of its chief executive Jack Dorsey after taking a stake of more than $1bn in the social media company. The New York-based fund has taken issue with Mr Dorsey simultaneously holding the CEO title at both Twitter and Square, the fintech company he also co-founded, according to people familiar with the matter. The $38bn firm has flagged leadership issues with Twitter’s board of directors, said people familiar with its thinking, stemming from a CEO it believes is distracted with other activities and a high turnover rate among senior operating and financial executives.
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