Ouch, Elliott Management seeks to oust Jack Dorsey as CEO of twitter

[Anerdyblackguy]

Singer’s Elliott Seeks to Replace Twitter CEO Dorsey
By
Scott Deveau
and
Ed Hammond
February 28, 2020, 7:41 PM ESTUpdated on February 28, 2020, 9:03 PM EST

• Elliott has nominated four directors for Twitter’s board
• Hedge fund has had ‘constructive discussions’ with company

Photographer: Chris Ratcliffe/Bloomberg
Activist investor Elliott Management Corp. has taken a sizable stake in Twitter Inc. and plans to push for changes at the social media company, including replacing Chief Executive Officer Jack Dorsey, according to people familiar with the matter.

The New York-based firm has nominated four directors to Twitter’s board, said the people, who asked to not be identified because the matter isn’t public.

There are only three seats becoming available at this year’s annual meeting but Elliott wanted to ensure that it nominated enough directors to fill all three seats or any other vacancies that may arise, the people said. The exact size of Elliott’s stake couldn’t be determined.

Jack Dorsey

Photographer: Cole Burston/Bloomberg

Elliott approached San Francisco-based Twitter about its concerns privately and has had constructive discussions with it since then, the people said.

Representatives for Elliott and Twitter declined to comment.

 

[Kinguno]

Welp

 

[El_Mero_Mero]

I dabble a little bit with stocks and I thought of investing in the Square company that Jack Dorsey is behind (just like Twitter), but after hearing Mr. Dorsey on The Joe Rogan podcast I don't know what to think of him.

 

[Sbp]

I dabble a little bit with stocks and I thought of investing in the Square company that Jack Dorsey is behind (just like Twitter), but after hearing Mr. Dorsey on The Joe Rogan podcast I don't know what to think of him.

What makes you say that ???

 

[ORDER_66]

How is that even possible??? Don't Jack control controlling interest as CEO???

 

[Freedman]

How is that even possible??? Don't Jack control controlling interest as CEO???

CEOs work for the investors they get final call on the shots

 

[ORDER_66]

CEOs work for the investors they get final call on the shots

I mean I get it but if jack own 51% STILL all that ousting shyt aint gonna happen right???

 

[bammtronics]

I mean I get it but if jack own 51% STILL all that ousting shyt aint gonna happen right???

According to this he's 2nd largest shareholder The Top 3 Twitter Shareholders (TWTR)

 

[ORDER_66]

According to this he's 2nd largest shareholder The Top 3 Twitter Shareholders (TWTR)

RIP jack then...

 

[bammtronics]

RIP jack then...

Wouldn't be his first time getting the boot from Twitter he'll be alright

 

[Scruffy]

Reminds me of Steve Jobs getting removed from Apple in the early 90's.

 

[ORDER_66]

Reminds me of Steve Jobs getting removed from Apple in the early 90's.

And they brought him back when that company tanked without his ass...

 

[Benjamin Sisko]

Let’s see if he’s the one behind the anti-black male algorithms and tweets. That shyt didn’t come from no where.

 

[ORDER_66]

Let’s see if he’s the one behind the anti-black male algorithms and tweets. That shyt didn’t come from no where.

He probably is and that's why they looking to get rid of him before it becomes another facebook..

 

[Scruffy]

Let’s see if he’s the one behind the anti-black male algorithms and tweets. That shyt didn’t come from no where.

Dude's the epitome of a libertarian