Jack Dorsey had stepped down as the CEO of Twitter in 2021, but continued as a member of its board of directors.
Elon Musk said Thursday that former Twitter CEO Jack Dorsey is not on the board of directors of the company anymore.
In a follow-up tweet, Musk indicated that the decision was Dorsey’s, and added that he is a “fan” of the entrepreneur.
“I’m a fan of Jack btw. Wish he would stay on the board, but I understand that he needs to move on,” Musk wrote in a tweet.
Musk announced last month that he will take control of Twitter in a $44 billion deal. Following the announcement, Dorsey expressed his approval of the Tesla founder.
“In principle, I don’t believe anyone should own or run Twitter. It wants to be a public good at a protocol level, not a company. Solving for the problem of it being a company however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness,” Dorsey said on Twitter.
Meanwhile, the Twitter deal has not been smooth-sailing for Musk. Earlier this week, he was sued by Twitter Inc investors claiming he manipulated the company’s stock price downward. The investors said Musk saved himself $156 million by failing to disclose that he had purchased more than 5% of Twitter by March 14. They asked to be certified as a class and to be awarded an unspecified amount of punitive and compensatory damages.
They also named Twitter as a defendant, arguing the company had an obligation to investigate Musk’s conduct, though they are not seeking damages from the firm.
Source: indianexpress.com