- A committee formed earlier this year to review Twitter's leadership has concluded the current management structure with Dorsey at the helm is sufficient, Bloomberg reported Tuesday, citing a company filing on the matter.
- "The board will continue to evaluate company and management performance according to a range of factors, including the company’s operating plan and established milestones,” the filing said, while expressing confidence in the existing leadership.
- The panel reviewing a potential leadership change included representatives from activist investor Elliott Management Corp., which took a major stake in Twitter in February.
- The firm had initially been eyeing changes to the firm's management, with the possible removal of Jack Dorsey as CEO, according to a Bloomberg report at the time based on sources.
- Twitter shares gained about 1% in extended trading on Tuesday's news.
- While the review committee is keeping Dorsey as Twitter's chief, it also introduced a plan that would make it easier for outside investors such as Elliott to take control by replacing board members, Bloomberg reported.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.