Activist investor Elliott Management is seeking to replace Twitter [S: TWTR] CEO Jack Dorsey, Bloomberg News reported late Friday. The $40.2 billion hedge fund run by Paul Singer has taken a large stake in the social media company and wants major changes, people familiar with the matter told the news outlet. Twitter did not immediately respond to a MarketWatch request for comment on the report. According to Bloomberg News, Elliott Management has nominated four directors to Twitter's board. Dorsey has been scrutinized for running two publicly traded companies simultaneously: Twitter and Square. Twitter shares did gain about 7% in after-hours trading. The stock is up 3.5% in the year to date and up more than 8% over the past year.
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February 29, 2020 at 09:18PM
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Elliott Management wants to oust Dorsey as Twitter CEO: Bloomberg - MarketWatch
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