SAN FRANCISCO — Jack Dorsey plans to step down as chief executive of Twitter, the social media site he co-founded in 2006, two people familiar with his thinking said. His departure comes a year and a half after Mr. Dorsey survived an attempted ouster from the activist investor Elliott Management.
Mr. Dorsey could announce his departure as soon as Monday afternoon, a person familiar with the situation said. The source requested anonymity because the plans, first reported by CNBC, are not yet public. A Twitter spokeswoman did not respond to a request for comment.
Mr. Dorsey, who is also the chief executive of the payments company Square, was fired from the top job at Twitter in 2008 but returned in 2015.
His leadership has been questioned by employees and investors who believed that he was unfocused and spent too much of his time on Square and other passion projects. Other employees rallied around him during the 2020 attempt to force him out, using the hashtag #WeBackJack as a rallying cry.
This is a developing story. Check back for updates.
Source: NewYork Post