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Twitter co-founder Dorsey takes aim at board in series of tweets -Breaking

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© Reuters. FILE PHOTO. Twitter CEO Jack Dorsey speaks during the remote hearing of subcommittees of U.S. House of Representatives Energy and Commerce Committees on “Social Media’s Role In Promoting Extremism and Misinformation”, in Washington, U.S.A.

(Reuters) – Twitter Inc (NYSE:) Jack Dorsey, cofounder of the company, took aim at its board late Monday night in a series tweets. This was as it weighed Elon Musk’s offer to buy for $43 billion.

Dorsey (also a member of Twitter’s boards) added fuel to the Twitter chatter last week by stating that Twitter’s board “consistently has been the dysfunctional part of the company.”

Dorsey was frustrated at the inability to freely express his frustration after he received a Monday tweet asking why he didn’t “do something about it” while he was CEO of Twitter.

“So much to say … but nothing that can be said,” Dorsey tweeted.

The tweets by Dorsey come two weeks after turmoil at the social network company. It began with Musk making a disclosure of a 9.2% stake, and then offering to buy out. The board approved a “poison pills” on Friday to restrict Musk’s potential ability to increase his stake.

Dorsey replied to another thread asking him for his thoughts by tweeting “I wish I could get through all of the abstraction here to answer you but alas, and woe.”

Tesla Inc CEO Musk is vocal about his critique of Twitter’s strategy and board. Musk tweeted Monday morning that Twitter’s salary board members would get $0 if his bid is successful, which could result in $3 million saved each year.

Reports indicate that Thoma Bravo and other private equity firms are looking at buyouts of Twitter.

Square’s CEO, Dorsey is still in place and he also holds a spot on the board of Twitter. At the company’s annual meeting in May, his term will expire.

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