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Politics : A Real American President: Donald Trump

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From: Sr K2/29/2020 9:39:20 PM
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2/29/2020

Updated Feb. 29, 2020 5:54 pm ET

Elliott Management Nominates Four Directors to Twitter’s Board

Move sets the stage for potential showdown between the activist hedge fund and social-media company

Elliott has taken a roughly $1 billion stake and been in talks with Twitter management about its desire for the company to find a full-time chief executive officer, the person said. That most likely would involve replacing co-founder Jack Dorsey, who began a second stint as the company’s CEO in 2015. In addition to his role at Twitter, Mr. Dorsey leads Square Inc., a financial-technology firm he also co-founded.

In November, Mr. Dorsey said via a tweet that he planned to live in Africa for three-to-six months this year. The announcement surprised executives at Twitter and angered investors frustrated with the company’s performance under the part-time CEO.

Twitter’s shares and financial performance have long lagged behind its popularity and influence in culture and politics. Its market capitalization, at around $26 billion, is a fraction of that of rival social-media platform Facebook Inc.
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