Jack Dorsey To Continue As Twitter CEO, Calls Truce Will Elliott Management

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Twitter Inc. (NYSE: TWTR) chief executive officer Jack Dorsey will continue in his role, as a "cooperation agreement" signed with Elliott Management.

What Happened

The social media company on Tuesday said it would buy back $2 billion, or about 7.9% of its shares, as part of the agreement.

Twitter also announced a $1 billion investment from private equity from Silver Lake Partners that it said would be used for the repurchase program.

Elliott's Jesse Cohn and Silver Lake's Egon Durban would be appointed to the Twitter board of directors. Twitter would also search for a third independent director …

Full story available on Benzinga.com

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