Categories: Latest News

Jack Dorsey reportedly set to step down as Twitter CEO

Twitter CEO, Jack Dorsey is expected to step down from his executive role, sources told CNBC’s David Faber.

Twitter stock jumped more than 11% following the news.

Dorsey currently serves as both the CEO of Twitter and Square, his digital payments company. Twitter stakeholder Elliott Management had sought to replace Jack Dorsey as CEO in 2020 before the investment firm reached a deal with the company’s management.

Elliott Management founder and billionaire investor, Paul Singer had questioned whether Dorsey should run both of the public companies, calling for him to step down as CEO of 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.

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

Treasure Orokpo

A multi-talented individual with a passion for diverse fields, Treasure Orokpo is a trained journalist, skilled cook, and AI enthusiast. When she's not uncovering the latest stories, you can find her whipping up culinary creations in the kitchen and entertainment.

Recent Posts

BREAKING: Tinubu govt bows to pressure, drops treason charges against EndBadGovernance protesters

The Federal High Court in Abuja dismissed the case against individuals charged in connection with…

3 hours ago

Benue: ‘I’m not behind Ukpute-Bonta crisis’ – Rep David Ogewu

The member representing Oju/Obi Federal Constituency and Deputy Chairman of the House Committee on Army,…

3 hours ago

Tension as new terrorist group ‘LAKURAWAS’ emerges in Nigeria

The Sokoto State Government has raised alarms about the emergence of a new terrorist group…

4 hours ago

Ujah: Ministry of Education breaks silence on suspension of FUHSO VC, issues fresh order

The Federal Ministry of Education has formally addressed the suspension of Prof. Innocent A.O. Ujah…

5 hours ago

‘Herdsmen after our women’ – Idoma community raises alarm

Residents of Ukwonyo community in the Ufia axis of Ado Local Government Area, Benue State,…

5 hours ago

FUHSO: Why we suspended Prof Ujah as Otukpo varsity Vice Chancellor – Governing Council

The Governing Council of the Federal University of Health Sciences, Otukpo, has explained why it…

5 hours ago