Jack Dorsey, the former CEO of Twitter has stepped down from the board. And his departure is effective as of the company’s shareholders meeting. That was something that was in process for a while now. And it leaves him free time to focus on Block which is the company previously known as Square.
But the real surprise is this:
At Wednesday’s shareholder meeting, Twitter’s board voted to oust board member and Musk ally Egon Durban, CEO of private equity firm Silver Lake — just the latest twist in a corporate takeover that’s been as chaotic and unpredictable as the man who launched it to begin with.
I can only see this as the board’s rejection of Elon Musk and his followers as it’s relatively rare for shareholders to vote to remove directors from company boards. That’s likely not a good sign for Musk’s takeover attempt. But we’ll have to see how this latest plot twist plays out.
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This entry was posted on May 26, 2022 at 11:26 am and is filed under Commentary with tags Twitter. You can follow any responses to this entry through the RSS 2.0 feed.
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Dorsey Is Done With Twitter…. And The Twitter Board Punts A Musk Ally
Jack Dorsey, the former CEO of Twitter has stepped down from the board. And his departure is effective as of the company’s shareholders meeting. That was something that was in process for a while now. And it leaves him free time to focus on Block which is the company previously known as Square.
But the real surprise is this:
At Wednesday’s shareholder meeting, Twitter’s board voted to oust board member and Musk ally Egon Durban, CEO of private equity firm Silver Lake — just the latest twist in a corporate takeover that’s been as chaotic and unpredictable as the man who launched it to begin with.
I can only see this as the board’s rejection of Elon Musk and his followers as it’s relatively rare for shareholders to vote to remove directors from company boards. That’s likely not a good sign for Musk’s takeover attempt. But we’ll have to see how this latest plot twist plays out.
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This entry was posted on May 26, 2022 at 11:26 am and is filed under Commentary with tags Twitter. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.