Twitter Inc co-founder Jack Dorsey said on Wednesday that he is not eager to assume the helm of the social media business, implying that he will play a limited role if Elon Musk is successful in closing the acquisition transaction.
According to Refinitiv, Dorsey, who presently heads payments firm Block Inc, holds a 2.4 percent ownership in Twitter. Since the board of directors of Twitter accepted Musk’s $44 billion takeover offer on April 25, there has been little clarification on the company’s future leadership until the deal is completed.
According to Reuters, Musk has lined up a new chief executive, and there are suggestions that the Tesla Inc CEO may temporarily take over the top role. Dorsey has had a turbulent tenure as CEO of the social media business. He was removed as Twitter CEO in 2008, two years after the service’s introduction, but reclaimed the position in 2015 before handing it over to chief technology officer Parag Agarwal late last year.
Meanwhile, a recent regulatory filing showed that Musk was in talks with Dorsey to contribute his shares to the proposed acquisition. Tesla chief executive officer Elon Musk bought Twitter following a $44 billion deal on April 25. Reports suggest that Musk may temporarily take over the top job of the social media company.
The announcement comes soon after Dorsey supported Musk’s plan to reinstate Donald Trump’s account, asserting that the decision to ban the former US President was “a failure.”
Trump was permanently suspended from Twitter following the January 6 Capitol Riots for violating the platform’s rules against violence incitement, a decision the company has said was taken by then CEO Jack Dorsey.
On Tuesday, Elon Musk said that he would restore Trump’s banned account on Twitter if his deal to acquire the company is completed. Musk Unlikely to Buy Twitter for Agreed $44 billion (roughly Rs. 3,41,345 crore), Say Investors
“I think it was a morally bad decision to be clear and foolish in the extreme,” he said at a Future of the Car event hosted by the Financial Times. Backing Musk’s comment, Twitter co-founder said that the decision to issue the ban on Trump’s account was “a failure.”
