Elliott Management, the activist hedge fund led by Paul Singer, is pushing for CEO Jack Dorsey to be replaced after taking a $1-billion stake in Twitter.
Activist investor Elliott Management wants Twitter to have the focus of a full-time CEO. Jack Dorsey splits his time between Twitter and Square.
“What you get with founders is they completely understand the company,” one long-standing investor said. “But often they are not the person to take it to the next level.”In recent years, Dorsey has cemented his legacy as a quietly thoughtful and likable eccentric, with many column inches dedicated to his propensity toward wellness trends such as meditation, ice baths and fasting.
Paul Singer, founder and CEO of hedge fund Elliott Management Corp., is pushing for Jack Dorsey to be replaced after the investment firm took a $1-billion stake in Twitter. “It’s locked in a cycle of social restraint and a lack of direction from the top,” the person said. “It takes the slightest concern for paralysis to fall into place, which is why they don’t put out [new] features.”
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