Twitter’s board has been urged to replace CEO Jack Dorsey, due to his split attention between Twitter and Square, his other firm. Critics argue that Twitter’s performance is suffering as a result. They cite a lack of innovation, a stagnant user base, and poor financial performance as evidence. Dorsey’s dual role is seen as problematic, with Twitter requiring a full-time CEO to tackle its issues.
Elliott Management, an activist investor, has acquired a significant stake in Twitter and is pushing for changes, including Dorsey’s removal. Silver Lake, a private equity firm, has also invested $1 billion in Twitter and agreed to cooperate with Elliott Management’s plans.
Despite these pressures, Dorsey retains support from some board members and employees. His vision for decentralising social media, codenamed ‘Bluesky’, is viewed as a potential game-changer. Yet, many remain sceptical, seeing it as a distraction from Twitter’s pressing problems.
There are also concerns about Twitter’s role in spreading misinformation, particularly in relation to the US elections and COVID-19. Critics argue that Twitter needs a focused CEO to address these issues and improve the platform’s overall performance.
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