Share jumps up: Twitter boss to resign

As of: 11/29/2021 4:48 p.m.

The head of the short message service Twitter, Jack Dorsey, apparently wants to resign. This allows the entrepreneur to concentrate on his other boss position.

According to reports from the US financial broadcaster CNBC and the Reuters news agency, the boss and co-founder of the short message service Twitter, Jack Dorsey, wants to give up the management of the company.

CNBC, citing anonymous sources, reported that Dorsey would be stepping down from his post. An insider told Reuters that Dorsey and the board of directors have already settled the succession. The group had been making preparations for Dorsey’s withdrawal since last year.

Criticism because of two top positions

Dorsey founded Twitter in 2006 together with several partners. Then three years later he founded the payment service Square. Today he is the boss of both companies. In the past, Dorsey had already given up the Twitter line once before returning to the top of the company in 2015.

Most recently, the entrepreneur was confronted with criticism from hedge fund billionaire Paul Singer, who questioned whether Dorsey should run both companies. The Twitter share rose about ten percent on the report before it was temporarily suspended from trading.

Leave a Reply

Your email address will not be published.