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Twitter CEO Jack Dorsey expected to step down

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© Reuters. FILEPHOTO: Twitter CEO Jack Dorsey testifies at a remote audio hearing that was held by the U.S. House of Representatives Energy and Commerce Committee. The hearing focused on Social Media’s role in spreading extremism and misinformation. It took place in Washington, U.S.

(Reuters) -Twitter Inc Chief Executive Officer Jack Dorsey is expected to step down, CNBC reported https://cnb.cx/3pbZGzW on Monday, citing sources.

In early trading, shares of the microblogging platform rose 9% while digital payments company shares fell 7% Square Inc (NYSE:), also headed by Dorsey was up 3%

Twitter (NYSE 🙂 did not respond immediately. In his last tweet on Nov. 28, Dorsey had said https://twitter.com/jack/status/1464865985471471616: “I love twitter”.

In early 2020 https://reut.rs/3E6Nfvh, Dorsey faced calls from Elliott Management Corp to step down, after the hedge fund argued he was paying too little attention to Twitter while also running payments processing company Square Inc.

Dorsey managed to fend off the pressure by giving Elliott’s ally Silver Lake Partners seats on Twitter’s board.

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