The Twitter board committee has elected to keep Jack Dorsey as its CEO after reviewing the social media company’s management. According to Bloomberg, the review’s results show the support for Dorsey in the CEO position as he is also the CEO of Square, Inc. which is a payment company he co-founded.
Dorsey faced criticism for his management style, encouraging employees to work remotely from home even before the pandemic began. Unlike other tech CEO’s, Dorsey has encouraged social justice and actually held culprits responsible for posting fake news and has started to flag those responsible.
Activist investor Elliott Management Corp. and private equity consultancy Silver Lake has chosen to stand by Dorsey after their respective reviews. The two companies began to review Twitter’s management practices after becoming investors.
“The committee expressed its confidence in management and recommended that the current structure remain in place. The board will continue to evaluate company and management performance according to a range of factors, including the company’s operating plan and established milestones.”company filing