Billionaire investor and founder of Elliott Management Corp, Paul Singe, is calling for the replacement of Twitter CEO Jack Dorsey as Twitter CEO.
Activist investor Elliott Management Corp. has acquired significant stakes in Twitter. It plans to make big changes at the social media company. One of the major changes could be the replacement of Twitter’s Chief Executive Officer Jack Dorsey.
Although it has not been publicly announced, a person who has not been identified states that the firm has already nominated four directors to Twitter’s board.
The reason for removal of the CEO is said to be that he shares his attention between Twitter and Square. He is the only CEO of more than one company with market valuations of over $5 billion.
Jack Dorsey is known to be a big proponent of Bitcoin. He paid a visit to Africa where he was able to spend time gaining a deeper understanding of the ecosystem. After his visit to Africa Jack said,
“Sad to be leaving the continent…for now. Africa will define the future (especially the bitcoin one!). Not sure where yet, but I’ll be living here for 3-6 months mid 2020. Grateful I was able to experience a small part.”
Dorsey believes Twitter would benefit from a decentralised standard as more users would be able to contribute to public conversation on a platform that uses open recommendation algorithms that promotes innovative mediums for healthy conversations.
Dorsey may move to Africa in the future. If he remains CEO of Twitter while in Africa, innovation in the cryptocurrency space could be compounded as he utilises his expertise and resources in business to accelerate growth of Africa’s financial ecosystem.
The CEO is determined to play a major role in redefining the future of finance. Jack Dorsey’s Square recently is a financial company that uses Bitcoin.
