The following is the [XGNews]: Twitter appoints new board members to replace Elliott partners recommended by xgapn.com.
Twitter on Wednesday appointed Mimi alemayehou, senior vice president of public-private partnerships at MasterCard, as a director to replace Jesse Cohn, a partner at Elliott management, a hedge fund, according to reports.
Previously, Elliot management helped the company develop a blueprint for reform that doubled Twitter’s share price.
Alemayehou will join the board immediately, while Cohn will leave, twitter said in a statement. Elliott, one of Twitter’s 20 largest shareholders, will continue to interact with senior management and the board through “information sharing and contractual engagement.”.
Elliott is in charge of $40 billion, and Cohn is in charge of the US business. He became a twitter director in March 2020, when the social media company agreed to allow CEO Jack Dorsey to retain his position and provide Elliott with a board seat.
Cohn joined the twitter board with Egon Durban, a Silicon Valley technology investor and co CEO of private equity firm Silver Lake capital.
Elliott has previously criticized Dorsey as CEO of both twitter and square, advocating the removal of his twitter CEO position.
Dorsey also admitted that Twitter was too slow to innovate and develop new features, so after a long period of poor performance, the platform announced a series of plans to attract more users and advertisers.
Twitter also promised to double its revenue by 2023, and last week launched its subscription product, twitter blue, which allows users to edit tweets and customize apps.
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