Tuesday, 3 November 2020

Twitter board expresses confidence in CEO Dorsey

(Reuters) - The board of Twitter Inc <TWTR.N> expressed support for Chief Executive Officer Jack Dorsey on Monday and said it had confidence in the social media company's "current structure".
"The committee expressed its confidence in management and recommended that the current structure remain in place," the board said in a regulatory filing.
The board cited Twitter's "significantly improving product" and financial performance in the third quarter when revenue grew 14% year-over-year to $936 million.
Earlier this year, Dorsey fought off an attempt by activist investor Elliott Management to oust him from his job by agreeing to growth targets.
The deal bought time for Dorsey, who is also CEO of financial tech company Square <SQ.N>, to show Elliott he could run two public companies.
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