Report: Jack Dorsey is stepping down from Twitter’s board of directors
FOX Business host Stuart Varney discusses a shareholder meeting on Twitter during the opening bell.
Twitter co-founder Jack Dorsey has resigned from the company’s board of directors effective today, according to The Hill.
The move was not unexpected in the wake of Tesla CEO Elon Musk’s multibillion-dollar bid to buy the platform.
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The announcement comes on the same day that Twitter held its annual shareholder meeting.
“As we shared back in November, Jack will be leaving the Board of Directors when his term expires at the 2022 shareholder meeting,” a Twitter spokesperson said in a statement to The Hill.
Jack Dorsey, founder, co-founder, and CEO of Twitter and co-founder and CEO of Square (Photo by Joe Riddell/Getty Images/Getty Images)
Dorsey resigned as CEO of the company in November, with the company announcing that Parag Agrawal, who had been chief technical officer, would replace Dorsey and take his seat on the board.
Dorsey was highly critical of Twitter’s board of directors, saying in a tweet in April that it had “consistently been a dysfunction of the company.”
Twitter’s board announced last month that it would accept Musk’s bid to buy the company for $44 billion.
Musk suspended his initial plans to buy the social media platform earlier this month due to what he said were concerns about spam and fake accounts on the platform.
| ribbon | protection | else | they change | they change % |
|---|---|---|---|---|
| TWTR | Twitter you. | 37.16 | +1.40 | + 3.91% |
Dorsey tweeted his support for Musk’s acquisition of the platform last month.
Agrawal declined to provide an update on the status of Musk’s $44 billion acquisition at the social media giant’s shareholder meeting, citing “regulatory and other reasons.”
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althoug Musk did not attend the shareholders’ meetingwas referenced in the call multiple times by several contributors whose proposals called for a board member with expertise in human and civil rights to be appointed, to conduct an audit analyzing Twitter’s impact on civil rights and nondiscrimination and to publish a report on lobbying activities and expenditures.
Elon Musk attends the Metropolitan Museum of Fashion Art Institute Benefit Ceremony to celebrate the opening of the exhibition In America: An Anthology of Fashion May 2 in New York. (Photo by Evan Agostini/Invision/AP/AP Newsroom)
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