Twitter appoints new board member to replace Elliott's Cohn

FILE PHOTO: The Twitter logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2016. REUTERS/Brendan McDermid

(Reuters) - Twitter Inc on Wednesday appointed development finance executive Mimi Alemayehou to its board of directors to replace Elliott Management partner Jesse Cohn, after the activist hedge fund helped create a blueprint for changes that led to a doubling of the social media firm's share price.

Alemayehou will join the board immediately and Cohn will step down, the company said in a release. Elliott, one of Twitter's top 20 investors, will continue to engage with senior management and the board through an "information sharing and engagement agreement," Twitter said.