Twitter is being targeted by an activist shareholder seeking to replace Jack Dorsey [CNNMoney.com]
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Source: CNNMoney.com
Twitter is being targeted by an activist shareholder seeking to replace Jack Dorsey New York (CNN Business) Hedge fund Elliott Management Corp. has obtained a large stake in Twitter and is advocating for changes, including possibly replacing CEO Jack Dorsey, a source familiar with the matter confirmed to CNN Business. Bloomberg was the first to report the news, which was then confirmed by Reuters . Elliott has nominated four directors to Twitter's board in an attempt to fill three vacant seats at this year's annual meeting, according to sources. The New York-based firm, founded by billionaire Paul Singer, is also having "constructive discussions" with Twitter ( TWTR ) , the source said. Twitter and Elliott Management declined to comment. It's not clear how big a stake Elliott has in Twitter or who it wants to replace Dorsey with, Reuters and Bloomberg reported. Read More The source added that Elliott was open to the possibility of Dorsey being the f
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