An activist investor is looking to oust Twitter Inc. Chief Executive Jack Dorsey, but a number of employees and at least one outspoken fellow tech CEO — Elon Musk — are publicly backing the social network’s co-founder.
“Just want say that I support @Jack as Twitter CEO. He has a good [heart],” Musk tweeted late Monday.
The Tesla Inc. TSLA, +11.32% CEO — who has a long been a Twitter power user — wasn’t the only one singing Dorsey’s praises. A hashtag, #WeBackJack, started trending late Monday, with Twitter employees backing their boss.
Here’s what some were saying:
Buzzfeed reported that the hashtag effort grew organically out of an internal Slack channel, and not at the behest of Twitter management.
Separately Monday, Twitter asked all its employees to work from home, if possible, in order to help stop the spread of the coronavirus. That came a day after Twitter suspended all non-critical travel and events, including a scheduled appearance by Dorsey at the upcoming South by Southwest tech conference.
On Friday, Bloomberg News reported that activist investor Elliott Management had taken a $1-billion stake in Twitter, and was seeking to replace four directors, as well as Dorsey.
Read: Twitter’s Jack Dorsey faces another crisis, this time from an activist investor
Twitter has come under intense criticism in recent years over the platform’s inability to crack down on misinformation and hateful speech, and Dorsey has been criticized for splitting his CEO duties with his other company, Square Inc. SQ, -3.19% and wanting to spend several months this year living in Africa.
Twitter’s stock TWTR, +7.89% , which surged Monday, has also been relatively stagnant compared to its social-media rivals, such as Facebook Inc. FB, +2.06% and Snap Inc. SNAP, +1.55%
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March 03, 2020 at 09:10AM
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Elon Musk joins Twitter employees in public show of support for Jack Dorsey - MarketWatch
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