Activist investor wants to oust Twitter chief Dorsey: media

An activist investor known as a major Republican political supporter wants to wrest control of Twitter from co-founder and chief executive Jack Dorsey, US media reported Friday.[SAN FRANCISCO] An activist investor known as a major Republican political supporter wants to wrest control of Twitter from co-founder and chief executive Jack Dorsey, US media reported Friday.

Elliott Management, founded by billionaire Paul Singer, has acquired a stake in the social media firm and wants to remove Mr Dorsey, CNBC said, citing an unnamed source. The firm pushed for the change stating that Mr Dorsey's attention is divided between running Twitter and his financial transactions startup Square, and that Mr Dorsey intends to live part of each year in Africa.

Twitter early this month reported that it added millions of new users and boosted ad revenue in the fourth quarter, sparking optimism over its growth prospects. Mr Dorsey said during an earnings call that the results capped"a great year for Twitter" and that Twitter has been able to boost users by making the service"more instantly relevant."

Source: News Formal (newsformal.com)

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