Jack Dorsey, the CEO of Twitter, is set to resign, according to CNBC.
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Twitter shares jumped 11 percent after the unconfirmed reports.
CNBC reported that Dorsey is expected to step down “in the near future.” David Faber, the CNBC reporter who first reported the news, said he “didn’t know much” and that it was unclear who would lead the company.
Mr. Dorsey is the CEO of Twitter and Square, an online payments company.
Jack Dorsey was a co-founder of Twitter and served as its first CEO. He left that role in 2008, but returned to it in 2015 and has been the company's CEO ever since.
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It has proven controversial over the years. In particular, Mr. Dorsey has been criticized for his platform’s moderation rules – for example, facing anger from both those who believed Donald Trump should not have an account on the platform and from Trump supporters when his account was eventually deleted.
Mr. Dorsey has been vocal about other topics outside of his work on Twitter. He is a keen practitioner of meditation and has shown a keen interest in bitcoin and cryptocurrency.
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Neither Twitter nor Mr. Dorsey have yet commented on the news. It is unclear whether Mr. Dorsey’s latest tweet – posted over the weekend – has anything to do with the reports.
Source of information: independent.co.uk
