Twitter announced today that it will accept a $1 billion infusion from a tech investment firm in a bid to keep on CEO Jack Dorsey after activist investor Elliot Management tried to push him out
A co-CEO of Silver Lake, Egon Durban and Elliot Management partner Jesse Cohn will take seats on Twitter’s board and on a special temporary board committee to monitor Twitter’s management structure.Key background:
It’s not the first time Dorsey has faced a coup. He was fired by Twitter in 2008, only to be hired again in 2015. In 2016, he survived an acquisition attempt by Salesforce.Elliot Management wanted to push him out, according toSince Dorsey returned to Twitter in 2015, growth has been slow; share prices then were $36, and on Friday, five years later, they were priced at $33, the
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