Jack Dorsey, the CEO and co-founder of Twitter is about to step down from running the micro-blogging social network.
According to a report from CNBC, a stakeholder in Twitter is seeking to remove Dorsey who also serves as CEO of digital payment company Square.
Sources told CNBC reporter David Faber that Elliott Management, a US investment management firm, sought to previously remove 45-year-old Dorsey in 2020.
Elliott Management founder and billionaire investor, Paul Singer has criticised Dorsey for running two companies and called for him to step down from one of them.
It’s unclear who’s set to succeed Dorsey. However, if he steps down, the next CEO will have to meet Twitter’s aggressive internal goals.
The company said earlier this year it aims to have 315 million monetisable daily active users by the end of 2023 and to at least double its annual revenue in that year.
Dorsey, who founded the social media giant, served as CEO until 2008 before being pushed out of the role. He returned to Twitter as boss in 2015 after former CEO Dick Costolo stepped down.
In June, the Nigerian government suspended Twitter operations in the country, saying it was threatening its corporate existence.
Twitter had earlier deleted a message posted by President Muhammadu Buhari about south-easterners which many Nigerians had considered to be distasteful.
In Sunday, however, Minister of State for Niger Delta, Festus Keyamo said Twitter had agreed to meet all the conditions given to it by the Nigerian government as a prerequisite for lifting the ban.
