Twitter Inc Chief Executive Officer Jack Dorsey said on Thursday he is reconsidering a proposed stint in Africa this year due to coronavirus concerns, walking back his plans amid a call by activist investor Elliott Management for his ouster.
"With everything happening in the world, particularly with coronavirus, I have to reconsider what's going on and what that means for me and for our company," Dorsey said, speaking at a Morgan Stanley investor conference in San Francisco.
The tweet raised concerns among investors over how Dorsey would continue to run San Francisco-based Twitter and mobile payments company Square, which he also leads, from afar. This week, activist hedge fund Elliott Management Corp moved to remove Dorsey from his position at Twitter after acquiring a $1 billion stake in the company.
New York-based Elliott will be seeking to install its own nominees to Twitter's eight-member board when three of the company's directors stand for election at its upcoming annual shareholder meeting, sources told Reuters.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coronavirus fears hurting Africa's safari industry'Coronavirus outbreak has affected safari business because many clients fear the risk of contracting the virus, hence the cancellation or extension of travelling.'
Read more »
Wild abandoned: Covid-19 cripples Africa’s safari industryFREE TO READ | This is because clients are cancelling or delaying their trips rather than run the risk of contracting Covid-19.
Read more »
High level of misinformation, fake news about coronavirus a concern: Mkhize - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Health Minister Dr Zweli Mkhize says he is concerned about the high level of misinformation on social media and fake news about coronavirus which might lead to unnecessary public panic.
Read more »