jack Dorsey is expected to step down as Twitter CEO, media reports say. Earlier, Elliot Management, stakeholder at Twitter, had tried to replace Jack Dorsey as the CEO before reaching a deal with the management. Dorsey is also the CEO of his digital payment platform Square, prompting calls for him to step down from one of them.
Twitter shares witnessed a surge by as much as 11% after reports emerged of Dorsey stepping down as the CEO.
Twitter shares surge 11% in pre-market trading after sources tell CNBC that @Jack Dorsey is expected to step down as CEO of the company https://t.co/Su2rksNXxj pic.twitter.com/vHwYAg2kdR
— CNBC Now (@CNBCnow) November 29, 2021
Twitter has come under severe criticism in recent days after left-wing censorship became the norm on the platform. Dorsey’s leadership has been questioned as well over the matter. It is not yet clear who will replace him as the CEO after he steps down from the position.
Twitter was cofounded by Jack Dorsey with Ev Williams, Biz Stone and Noah Glass in 2006. He served as the CEO of the platform until 2008 before returning as CEO for the second time in 2015.
Note: This is a developing story. More information will be added to the report as and when we receive it.
