Daily Management Review

Dorsey retains his position as Twitter CEO


Committee on governance structure, opposed to Jack Dorsey, expressed confidence in him, noting the improvement in Twitter performance in the last reporting quarter. Elliott Management of Paul Singer has earned about $ 200 million from the growth of the company's shares since February.

Andrew Mager
Andrew Mager
Twitter CEO Jack Dorsey has secured the backing of the company's board governance structure committee. The company said the committee "expressed its confidence in management and recommended that its current structure be maintained," writes The Financial Times.

According to Twitter, the committee, which includes Elliott partner Jesse Cohn and Silver Lake co-CEO Egon Durban, praised the “current management structure, new operating plan and procedures introduced by the CEO, and significant improvements in the company's product, operating and financial performance over the last reporting quarter".

The governance structure committee, which includes representatives of the opposition Dorsey hedge fund Elliott Management, reviewed the leadership structure of the social media group, the newspaper said, and publicly expressed support for it.

In 2020, Dorsey came under fire for decisions to moderate content on an Internet platform. Last week, he was summoned to a meeting in the US Senate, where Republicans accused him of suppressing the views of conservatives on the social network. Senators from the Democratic Party believe that the social network is not decisive enough to combat disinformation and haters who publish hateful and hostile statements. Twitter's security was also questioned in July, when a number of prominent social media users were affected by the hack.

source: ft.com