Twitter CEO Jack Dorsey plans to step down from his executive post soon, according to a report this morning by CNBC.Dorsey also serves as CEO of digital payments firm Square, and that unusual dual role has caused friction with some investors over the years.
In 2015, after a years-long absence from the executive suite at Twitter, Dorsey returned to the corner office. Last year, Elliott Management, the activist firm that had previously targeted AT&T, agitated for Dorsey’s removal as CEO before ultimately reaching a settlement with the company’s management.David Faber, a longtime anchor on CNBC’s Squawk Box, said the move is expected to happen in the “near term” but conceded he didn’t know “much else” about the situation.
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