Posted on 11/03/2020 6:20:59 AM PST by Red Badger
Twitter CEO Jack Dorsey testifies remotely at a hearing to discuss reforming Section 230 of the Communications Decency Act with big tech companies on Wednesday, October 28, in Washington, D.C. Pool Photo by Greg Nash/UPI
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Nov. 2 (UPI) -- Jack Dorsey remains CEO of Twitter after board members voted to keep the current CEO structure, but the company is looking at a CEO succession plan, it said.
In a filing Monday with the Securities and Exchange Commission, the company announced that the board had "expressed its confidence in management and recommended that the current structure remain in place."
Members of activist hedge fund Elliot Management, which owns a 4% stock in Twitter, had questioned Dorsey's effectiveness, since he is also the CEO of finance tech company Square.
Activist investor Paul Singer had also challenged Dorsey's stated plan to move to Africa for 3-6 months because the continent was "the future." The Africa plan was later scrapped.
The board developed a management structure committee to review Dorsey and his team going forward. The leadership team must follow new performance targets, the report said.
The board also said Monday it would vote to adopt "governance changes" to make Twitter more receptive to shareholders, including moving board elections to one-year terms. The company also said it had "updated the CEO succession plan in line with best practices."
Dorsey faced angry questioning from Republican Senators earlier this month in a special hearing with CEOs of Facebook and Google to examine liability on social media under Section 230 of the Communications Decency Act.
Republicans complained about tech companies blocking conservative content. President Donald Trump has called out Twitter for flagging his tweets as inaccurate or misleading.
In July, the Twitter accounts of 130 high-profile people, including Democratic presidential nominee Joe Biden and Tesla CEO Elon Musk, were hacked and 45 were breached.
we will increase the number of conservative customers we target by 10% every quarter.
Dorsey’s free ride is about to come to and end.....................
JIHADI Jack. WHAT a SCUMBAG.
Looks like he took up moonshining to help out.
“Activist investor Paul Singer had also challenged Dorsey’s stated plan to move to Africa for 3-6 months because the continent was “the future.” The Africa plan was later scrapped.”
The only thing Africa is the future(past & present) for is misery, disease, and death.
Nice natural resources though...
IOW, a LIBERAL UTOPIAN PARADISE!.......................
“ The board developed a management structure committee to review Dorsey and his team going forward. The leadership team must follow new performance targets, the report said.”
This is code for “Dorsey is on the way out, we’re just setting it up to make if for cause.”
Africa should be a natural since every movie you watch the head IT guy is black.
Such a punchable face ....
He’s got a purty mouf........................
He looked high during the hearings. Probably does weed with booze.
That guy looks like a piece of work, doesn’t he?
He may be a skilled “computer geek” type of guy, but the skill set needed to be in charge of a major business entity are quite different than the skills of a computer geek. Just saying.
Like the old joke about Brazil. The country of the future, and always will be.
Perhaps he should have been doing something during Covid other than growing a Rasputin-like beard. And suppressing use of Twitter among Trump supporters / conservatives.
The executives at Facebook and Google must be pissed that Jack Dorsey from Twitter showed up at the hearings looking like a homeless drunk. It makes it hard to pretend that you’re a business professional when your peers show up looking like that.
Lol!
He looks like those photos of Civil War soldiers with a thousand yard stare.
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