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Sunday, October 1, 2023

Twitter CEO Jack Dorsey expected to step down, sources say

Dorsey currently works as CEO of Twitter and Square, his digital payment company. Twitter CEO Elliott Management wanted to replace Jack Dorsey as CEO by 2020 before the investment company reached an agreement with the company’s management.

Elliott Management founder and billionaire investor Paul Singer wondered if Dorsey should run both state-owned companies, demanding that he resign from the position of CEO at one of them.

It is not yet clear who will replace Dorsey. But if he resigns, the next CEO will have to meet Twitter’s aggressive internal intentions. The company said earlier this year it aims to have 315 million daily active users by the end of 2023 and at least double the annual revenue for that year.

Twitter did not respond to a request for comment.


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