Twitter founder Jack Dorsey responded to a tweet from a user who commented on the Twitter’s board of directors of plots and coups, particularly among the founding members.
Twitter founder Jack Dorsey has stated that the board has consistently been the dysfunction of the company. After it adopted a “poison pill” to thwart any attempt to take over the company also by tech billionaire Elon Musk.
Twitter’s board of directors responded to a tweet from a user. Who remarked on the Twitter board’s history of plots and coups. Particularly amongst Twitter’s founding members.”
“It’s consistently been the company’s dysfunction,” Dorsey responded.
Last November, Jack Dorsey handed over the reins to Parag Agrawal. But he remains a board member with a 2.2 percent stake until next month. Musk recently stated that with Dorsey’s departure, the Twitter board “owns almost no shares collectively.”
He went on to tell that the economic interests of the microblogging site’s board are not aligned with those of shareholders. Following the social media company’s steps to thwart his takeover attempt.
Twitter Inc. has taken steps to protect itself from hostile acquisition bids. Attempting to thwart billionaire Elon Musk’s unwelcome request to take the company private and turn it into a bastion of free speech.
The board established a one-year shareholder rights plan if a party acquires 15% of the stock without prior approval. The program ensures that anyone gaining control of Twitter. Through open market accumulation pays an appropriate control premium to all shareholders.