Twitter declared an settlement with activist investor Elliott Administration on Monday that — at least for now — averts a struggle more than CEO Jack Dorsey’s management of the social media giant.
Below the settlement, Elliott executive Jesse Cohn, who had been the driving power powering the hedge fund’s campaign to substitute Dorsey, will get a seat on Twitter’s board and on a new board committee that, according to a information release, will “evaluate the CEO succession prepare with the CEO.”
“We invested in Twitter mainly because we see a sizeable opportunity for worth creation at the enterprise. I am looking forward to doing work with Jack and the board to enable contribute to knowing Twitter’s complete probable,” Cohn claimed.
Twitter also claimed non-public fairness firm Silver Lake will spend $1 billion in the enterprise, with taking care of spouse Egon Durban also getting appointed to the board and the