Washington, D.C. (All Tech Considered) — Jack Dorsey, Twitter's Eccentric CEO, Could Be Looking For A Job Soon.
Twitter's CEO Jack Dorsey is at risk of losing his job after a powerful investor is pushing for change. It thinks Dorsey, who is also CEO of another company, is not focused enough on Twitter.
Elliott Management is concerned that Dorsey hasn't focused enough on Twitter, because he is also chief executive of payments company Square. The hedge fund is pushing for a CEO whose sole job is running Twitter.
To be able to act quickly, Elliott has nominated four directors to the company's board, according to two people familiar with the matter. The two sides have had constructive talks, according to the people, who were not authorized to speak publicly. Twitter and Elliott declined to comment.
The worry is that under Dorsey's leadership, Twitter is not poised to capitalize on a flood of news this year, including the U.S. presidential election, the summer Olympic Games in Tokyo and the coronavirus outbreak, that could attract people and advertisers to the platform.
The soft-spoken Dorsey has brought attention to himself for many things beyond his unusual twin CEO jobs, which have him splitting his time between Twitter and Square.