Twitter chief executive Jack Dorsey is expected to step down from his position leading the social media company, CNBC reported, citing multiple sources.
It’s unclear exactly why Dorsey, who co-founded Twitter and currently serves as chief executive of financial technology firm Square, will step down, according to CNBC. Private equity firm Elliot Management previously attempted to oust Dorsey in 2020, the outlet reported.
It’s unclear who is set to succeed Dorsey, CNBC said. Twitter’s share price rose 11% following the news reports, according to CNBC.
Twitter unrolled several new features for its platform in recent months, including a feature called “Spaces” that allows users to communicate with one another in a voice chat mode. The social media company also released a feature called “Twitter Blue” which allows users to access media coverage through the Twitter platform.
Twitter did not immediately respond to the Daily Caller News Foundation’s request for comment.
This story is breaking and may be updated.
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