No Plans To Head Twitter Again, Says Jack Dorsey; Hints At Limited Involvement

Twitter board accepted Elon Musk’s $44 billion buyout offer on April 25, but there is little clarity on the company’s new leadership once the deal closes

Jack Dorsey, who currently heads payments firm Block Inc, owns a 2.4 per cent stake in Twitter. Image: Getty

Source : Getty

New Delhi: Jack Dorsey, co-founder of Twitter Inc. has said that he was not keen to take up the top post of the social media platform, while hinting at his limited involvement, news agency Reuters has reported.

Teslo CEO and world’s richest man Elon Musk has acquired Twitter but it the process of acquisition will be complete not before this year-end.

The report said that Dorsey, who currently heads payments firm Block Inc, owns a 2.4 per cent stake in Twitter.

The Twitter board accepted Musk’s $44 billion buyout offer on April 25, but there is little clarity on the company’s new leadership once the deal closes.

On April 29, Reuters reported that Musk had lined up a new chief executive, while there are reports that the Tesla chief may temporarily take over the top job, replacing incumbent CEO Parag Agrawal.

Dorsey also has had a tumultuous run as the head of the social media firm. He was replaced as Twitter CEO in 2008, two years after launching the service, but took over the top job again in 2015 before ending the role to chief technology officer Parag Agarwal late last year.

Musk was in talks with Dorsey to contribute his shares to the proposed acquisition, according to a recent regulatory filing.

Meanwhile, in what could be a fresh trouble for Tesla chief Elon Musk, US regulators have started investigating into Musk's delayed disclosure of his sizable stake in Twitter Inc in March, reported the Wall Street Journal on Wednesday.

The world’s billionaire businessman disclosed a 9.2 per cent stake in Twitter to the US Securities and Exchange Commission (SEC) on April 4, a delay of at least 10 days since breaching the 5 per cent threshold for revealing a shareholding, according to Reuters.