Deals
Singer’s Elliott Seeks to Replace Twitter CEO Dorsey
- Elliott has nominated four directors for Twitter’s board
- Hedge fund has had ‘constructive discussions’ with company
Photographer: Chris Ratcliffe/Bloomberg
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Activist investor Elliott Management Corp. has taken a sizable stake in Twitter Inc. and plans to push for changes at the social media company, including replacing Chief Executive Officer Jack Dorsey, according to people familiar with the matter.
The New York-based firm has nominated four directors to Twitter’s board, said the people, who asked to not be identified because the matter isn’t public.