Twitter declared an agreement with activist investor Elliott Administration on Monday that — at least for now — averts a struggle above CEO Jack Dorsey’s management of the social media huge.
Less than the agreement, Elliott govt Jesse Cohn, who had been the driving drive powering the hedge fund’s campaign to swap Dorsey, will get a seat on Twitter’s board and on a new board committee that, according to a information launch, will “evaluate the CEO succession system with the CEO.”
“We invested in Twitter due to the fact we see a considerable chance for benefit generation at the firm. I am looking ahead to performing with Jack and the board to assistance contribute to knowing Twitter’s total potential,” Cohn explained.
Twitter also explained non-public fairness agency Silver Lake will invest $one billion in the firm, with managing spouse Egon Durban also remaining appointed to the board and the new