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.
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.
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.
— Twitter Investor Relations (@TwitterIR) March 5, 2020
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.
