{"id":276782,"date":"2020-11-04T10:22:46","date_gmt":"2020-11-04T15:22:46","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=276782"},"modified":"2021-07-24T16:21:24","modified_gmt":"2021-07-24T20:21:24","slug":"jack-dorsey-retains-twitter-ceo-position-despite-crypto-evangelism-concerns","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/jack-dorsey-retains-twitter-ceo-position-despite-crypto-evangelism-concerns","title":{"rendered":"Jack Dorsey Retains Twitter CEO Position Despite Crypto Evangelism Concerns"},"content":{"rendered":"

Jack Dorsey, the chief executive of payment processing platform Square, has had a pretty landmark year so far.\u00a0<\/span>The tech mogul, who also founded and heads social media platform Twitter, has found his position as the company\u2019s head under threat since 2020 began. However, he appears to have scored a major win.<\/span><\/p>\n

Enemies on the Prowl\u00a0<\/b><\/h2>\n

Earlier this week, Bloomberg <\/span>reported<\/span><\/a> that the board of Twitter had decided to stick with Dorsey at the helm of affairs following an evaluation of the company\u2019s performance. The decision will come as a relief to Dorsey and his fans who have watched the CEO come under fire from several angles.\u00a0<\/span><\/p>\n

Dorsey\u2019s ordeal is coming amid criticism from several of Twitter\u2019s investors and board members. Chief among them is the billionaire and activist investor Paul Singer. Singer through his investment firm, Elliott Management, gained seats on Twitter\u2019s board and purchased a not-insignificant amount of the company\u2019s shares.<\/span><\/p>\n

This year, Elliott Management, along with private equity firm Silver Lake, pushed for Dorsey\u2019s removal as Twitter\u2019s chief executive. According to a CNBC <\/span>article<\/span><\/a> in February, Singer explained that Dorsey regularly splits his time between Twitter and Square. With both companies worth north of $30 billion individually, Singer said that Dorsey would be unable to give his time to running the social media giant efficiently.\u00a0<\/span><\/p>\n

The activist investor also raised concerns with what appeared to be Dorsey\u2019s obsession with Africa. The Twitter CEO went on a much-publicized tour of the continent late last year, visiting Nigeria and Ghana especially. On his trip, Dorsey <\/span>met<\/span> with several of the countries\u2019 tech entrepreneurs, although he also spent a great deal of his time meeting with crypto industry leaders.<\/span><\/p>\n

Following his trip, Dorsey <\/span>proclaimed<\/span> that he planned to move to an African country for three to six months in 2020. Singer raised this issue as well, explaining that it meant a lack of commitment to Twitter and its growth.<\/span><\/p>\n

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Sad to be leaving the continent\u2026for now. Africa will define the future (especially the bitcoin one!). Not sure where yet, but I\u2019ll be living here for 3-6 months mid 2020. Grateful I was able to experience a small part. ? pic.twitter.com\/9VqgbhCXWd<\/a><\/p>\n

— jack (@jack) November 27, 2019<\/a><\/p><\/blockquote>\n