Twitter, Elliott in deal for Dorsey to stay CEO and add directors


Dorsey, CEO of Twitter and of Square, at a technology conference in New York City in 2018. — Reuters

Twitter Inc on March 9 reached an agreement with Elliott Management that lets Jack Dorsey stay as chief executive and adds three new directors a few days after Elliott's plan to push out the social media company's chief became public.

Elliott's head of US activism, Jesse Cohn, and private equity firm Silver Lake's co-chief executive officer Egon Durban, will join the social media site's board immediately and the company plans to appoint a third new director soon.

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