(Reuters) -Twitter Inc Chief Govt Officer Jack Dorsey is anticipated to step down, CNBC reported https://cnb.cx/3pbZGzW on Monday, citing sources.
Shares of the microblogging platform surged 9% in early buying and selling, whereas these of digital funds agency Sq. Inc, which can be helmed by Dorsey, have been up 3%.
Twitter was not instantly out there for remark. In his final tweet on Nov. 28, Dorsey had mentioned https://twitter.com/jack/standing/1464865985471471616: “I like twitter”.
In early 2020 https://reut.rs/3E6Nfvh, Dorsey confronted calls from Elliott Administration Corp to step down, after the hedge fund argued he was paying too little consideration to Twitter whereas additionally operating funds processing firm Sq. Inc.
Dorsey fended off this stress by giving Elliott and its ally, buyout agency Silver Lake Companions, seats on Twitter’s board.
(Reporting by Subrat Patnaik in Bengaluru; Modifying by Shinjini Ganguli)
