variety.com
Silver Lake
Jack Dorsey
Elliott Management
Egon Durban
city Durban
Twitter
Company
Silver Lake
Jack Dorsey
Elliott Management
Egon Durban
city Durban
Jack Dorsey Remains Twitter CEO After Company Makes Peace With Activist Investor
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variety.com
variety.comJack Dorsey will continue at helm of Twitter after the company reached an agreement with activist investor that had been potentially looking to oust the social network’s co-founder.
Twitter, in addition to the deal with Elliott Management, announced that private-equity firm Silver Lake, which will make a $1 billion investment in the company.
Twitter said it plans to use Silver Lake’s investment as part of funding a $2 billion stock buyback program in the future. Under the agreement with Elliott Management, which owns about 4% of the Twitter’s common stock and economic equivalents, two new board members will be appointed to the board: Egon Durban, co-CEO and managing partner of Silver Lake; and Elliott partner Jesse Cohn.
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