Twitter Chief Executive Officer Jack Dorsey expected to step down, as per a CNBC report. Dorsey, 45, currently serves as both the CEO of Twitter and Square, his digital payments company. Dorsey faced an ousting last year when Twitter stakeholder Elliott Management had sought to replace him.
Elliott Management founder and billionaire investor Paul Singer had wondered whether Dorsey should run both of the public companies, calling for him to step down as CEO of one of them, before the investment firm reached a deal with the company’s management. Dorsey, who founded the social media giant, served as CEO until 2008 before being pushed out of the role. He returned to Twitter as boss in 2015 after former CEO Dick Costolo stepped down. Twitter is yet to issue a official statement on the recent development.