Why Twitter CEO Jack Dorsey Is on the Hot Seat

”Unless he’s sleeping 45 minutes a night, it’s hard to imagine he’s giving Square and Twitter“ full attention, tech attorney Matt Bilinsky says

Nearly 14 years after co-founding the company, Twitter CEO Jack Dorsey finds himself on the hot seat, with activist investor Elliott Management pushing to remove him from the social media giant’s leadership.

The news, first reported by Bloomberg on Sunday, didn’t send investors running for the hills on Monday. Instead, Twitter’s stock price shot up 7% to $35.48 per share — higher than the S&P’s 4.6% jump. Even factoring in the overall boost the market enjoyed on Monday following last week’s coronavirus-induced drop, the stock surge suggested that many shareholders agree with Elliott Management’s calls for a CEO change.

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Sean Burch

Tech reporter • sean.burch@thewrap.com • @SeanB44