Twitter CEO Jack Dorsey Expected to Step Down, Sources Say

Activist investor Paul Singer has questioned whether Dorsey should lead both Twitter and Square, saying he should leave his CEO position at one company or the other.

learn more about Entrepreneur Staff

By Entrepreneur Staff

Twitter CEO Jack Dorsey is expected to leave his executive role, sources tell CNBC.

Dorsey is currently the CEO of both Twitter and Square, his digital-payments company.

Twitter stakeholder Elliott Management looked into replacing Dorsey as CEO in 2020, but the investment firm came to an agreement with the company's management to let him continue in the role.

Elliott Management's billionaire founder, famed activist investor Paul Singer, has questioned whether Dorsey should lead both of the public companies, saying he should leave his CEO position at one or the other.

Related: How to Get Verified on Twitter: A Complete Step-By-Step Guide

Although Dorsey's successor has yet to be announced, one thing is certain: The company's next CEO will have to meet Twitter's ambitious internal objectives, which include having 315 million monetizable daily active users by the end of 2023 and at least doubling its annual revenue in that year.

Twitter stock jumped more than 5% on the news of Dorsey's impending departure.

This wouldn't be the first time Dorsey has stepped down from his CEO role at Twitter. After founding the company in 2006, he served as its CEO until he was edged out of the role in 2008. He returned in 2015 after former CEO Dick Costolo stepped down.

Related: Why You Should Make Twitter Spaces Part of Your Business

Entrepreneur Staff

Entrepreneur Staff


Related Topics

Editor's Pick

Have More Responsibilities at Work, But No Pay Bump? Use This Script to Get the Raise You Deserve.
Black and Asian Founders Face Opposition at All Levels — Here's Why That Has to Change
Personal Finance

8 Fun and Fulfilling Ways to Retire by Age 50

Early retirement is a real option that more people are pursuing. You can do this if you are willing to work hard.

Business News

How to Make Money Online: 32 Proven Ways to Make Extra Money Fast

See how you can make money online, plus more details on how to bring in the bucks quickly.

Thought Leaders

5 Small Daily Habits Self-Made Millionaires Use to Grow Their Wealth

We've all seen what self-made millionaires look like on TV, but it's a lot more subtle than that. Brian Tracy researched what small daily habits these successful entrepreneurs adopted on their journey from rags to riches.


Invest in Yourself: 10 Things Every Working Woman Should Do This Year

When striving for success, it is easy to forget about your mental and physical health. But without health, you cannot fully succeed. Follow these ten lifestyle strategies for success in your personal and professional life.


Improving Yourself Takes 9.6 Minutes of Work Each Day

Micro-habits are the antidote to a chaotic world, offering a pathway to sustainable change.