Twitter Inc . said Monday that Chief Executive Officer Jack Dorsey is stepping down, a departure driven in part by investors uncomfortable with his roles running two large, publicly traded companies, according to people familiar with the matter.
The Twitter co-founder, one of Silicon Valley’s most prominent figures, is also CEO of digital payments company Square Inc. His split duties and outside hobbies have long drawn criticism, and last year activist investor Elliott Management Corp. pushed for changes at Twitter, including potentially adjusting Mr. Dorsey’s role, the people said.
Dorsey has not been in the good books of the Nigerian government since October 2020, over an allegation that he was complicit in the promotion of the EndSARS protests that ended in the destruction of lives and billions of property in Nigeria.
In June 2021, the regime of the Nigerian President, Major General Muhammadu Buhari (retd), suspended Twitter, citing the “persistent use of the platform for activities that are capable of undermining Nigeria’s corporate existence”. The Federal Government’s action followed a deletion of a controversial civil war post by the President.
The Buhari regime had since come under fire for what many termed as a restriction of the right of expression. The international community including the European Union, the United Kingdom, the United States, Canada, amongst others had since knocked the Buhari regime for the action but the Federal Government had been unyielding in its stance insisting that the sovereignty of the West African nation must be respected by the San Francisco tech giant.