Jack Dorsey To Stay at Twitter

Twitter and activist hedge fund Elliott Management have agreed to a truce that will shake up the social-media company's board but leave its Chief Executive Jack Dorsey in place [The link may be paywalled; alternative source]. From a report: The agreement calls for Twitter to appoint two new board members, with a promise to search for a new independent director, and make $2 billion in share repurchases, the company said. The buyback is to be funded in part by a $1 billion investment from technology-focused investment firm Silver Lake. The agreement noticeably doesn't include the removal of Mr. Dorsey, CEO and co-founder of Twitter, a central pillar of Elliott's campaign, which just came to light last week. Elliott has a roughly $1 billion stake in Twitter, people familiar with the matter have said.

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