Jack Dorsey Stays as Twitter’s CEO, Good News For Bitcoin

Twitter has come to an agreement with activist investor Elliott Management, in which Jack Dorsey retains his position as CEO. This announcement represents a major victory for Bitcoin and the crypto community.

Dorsey To Remain CEO Amid Board Room Shakeup

Jesse Cohn, Elliott’s head of US activism, will immediately join Twitter’s board, along with Silver Lake co-Chief Executive, Egon Durban. A third independent director will be appointed later.

The board, along with its new members, will also form a committee to evaluate a succession plan with Dorsey and make recommendations on corporate governance. One potential change in the sights of the new committee is the removal of its staggered board, and it plans to share its findings by year end.

Equity firm Silver Lake will also invest $1 billion into the social media company under the terms of the agreement. Twitter plans to use this money to fund its first ever share buyback, set at $2 billion.

Dorsey: Overburdened or Coping Well?

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