News Twitter CEO and co-founder Jack Dorsey says he will 'reconsider' his...

Twitter CEO and co-founder Jack Dorsey says he will ‘reconsider’ his plan to move to Africa because of coronavirus

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According to multiple news outlets, Jack Dorsey is reconsidering his plans to move to Africa in light of the coronavirus outbreak, a decision that has drawn criticism and helped fuel a push by activist hedge fund Elliott Management Corp. to possibly replace him.

Jack Dorsey, chief executive officer of Twitter Inc. and Square Inc., Photo Credited: Cole Burston / Bloomberg via Getty Images file

Dorsey said this on Thursday that the spreading coronavirus was, in part, causing him to rethink his travel plans.

” I had been working on my plans where I’d work decentralized, as my team and I do when we travel, but in light of COVID-19 and everything else going on I need to reevaluate. Either way, we’ll continue to pursue opportunities in Africa,” he said at a Morgan Stanley event.

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The CEO last year disclosed his Africa plans via Twitter. He said on Thursday it had been a mistake to tweet about his Africa plans without explaining fully why he felt it was necessary. “The tech innovation is incredible,” he said and represented a growth opportunity for Twitter.

This came merely a week after Bloomberg first reports that the hedge fund Elliott Management had suggested a new slate of four people for Twitter’s governing body, expecting to pressure Dorsey to concentrate on his main job or possibly push him out.

Elliott has taken a roughly $1 billion stake in Twitter TWTR, -2.86% and nominated four directors to the social-media company’s board. It is also seeking a full-time CEO. Dorsey runs payments firm Square Inc. SQ, -3.70% as well as Twitter, according to Marketwatch.

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