Twitter CEO Jack Dorsey is reportedly planning to step down

Twitter CEO Jack Dorsey is planning to step down from the position, CNBC reports. It’s not yet clear who will take his place as chief executive of the company if he does leave. Engadget has contacted Twitter for comment.

Over the last six years, Dorsey has been in the unusual situation of running two notable tech companies: Twitter and Square. His first stint as Twitter CEO, which he co-founded, ended in 2008 when he was pushed out. He returned in 2015 when Dick Costolo departed.

Last year, activist investment firm Elliott Management called for Dorsey to leave his position at Twitter. The firm’s founder, Paul Singer, suggested Dorsey’s dual CEO role meant he wasn’t able to focus enough on the social media platform. Twitter reached a deal with Elliott Management, which included a $2 billion stock buyback, to keep Dorsey in place, despite a shaky outlook for the company when the COVID-19 pandemic was starting to take hold.

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Source: Engadget

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