April 20, 2022
Twitter chief executive Jack Dorsey took a swipe at the company’s board. The outburst from the former Twitter CEO follows the board’s decision to reject Elon Musk’s demand to buy Twitter for $43 billion.
Jack Dorsey, who is also a member of the social media company, said the company has “consistently been the dysfunction of the company.”
Dorsey also expressed frustration with his limited ability to speak when asked why he had “done nothing about it” during his time as chief executive.
He hinted that there was so much going on and so much to say about the company, but refused to shed light on it. “I really wish I could break through all the abstraction here and answer you, but alas and woe,” Jack tweeted.
On Friday, Twitter passed a ‘poison pill’ to limit Elon Musk’s ability to increase his stake in the social media platform as a takeover firm emerged to challenge his $43 billion bid for the company.
The poison pill will dilute anyone who accumulates more than 15% of the company by selling more shares at a discount to others.
The Sources for this piece include an article in Reuters.
