Investment Activists Want Twitter CEO Jack Dorsey Out: Here’s What Elon Musk Thinks
Tesla (TSLA) CEO Elon Musk has been outspoken on many issues, and his latest opinion backs Twitter (TWTR) CEO Jack Dorsey, who is losing support at the very company he founded.
Dorsey is reportedly on the outs with Twitter investor, Elliott Management, which has more than $1 billion stake in the social media platform. Executives at Elliott Management are calling for the replacement of Dorsey, who splits his time between the two companies he started – Twitter and mobile payment system, Square, CNBC reported.
Adding to the matter is Dorsey’s talked about move to Africa, which could pull him away from Twitter for up to six months. Elliott Management executives reportedly want Twitter to have a full-time CEO that will focus on progressing the platform, which is gaining momentum with users and advertisers.
Musk, an active user of Twitter himself, tweeted his support for Dorsey as CEO, saying late on Monday, “Just want say that I support @Jack as Twitter CEO.” Musk went on to say in the tweet that Dorsey has a good heart, ending the post up with a heart emoji.
Shares of Twitter stock were down 1.14% as of 10:38 a.m. EST on Tuesday while shares of Tesla stock were up 4.45% at the same time.
© Copyright IBTimes 2024. All rights reserved.