Twitter Appoints Mimi Alemayehou to Replace Elliott’s Jesse Cohn as New Board Member

Elliott, one of Twitter's top 20 investors, will continue to engage with senior management and the board through an "information sharing and engagement agreement."

Twitter on Wednesday appointed improvement finance government Mimi Alemayehou to its board of administrators to exchange Elliott Management companion Jesse Cohn after the activist hedge fund helped create a blueprint for adjustments that led to a doubling of the social media firm's share price.

Alemayehu will be a part of the board right away and Cohn will step down, the corporation said in a release. Elliott, one of Twitter's pinnacle 20 investors, will proceed to have interaction with senior administration and the board thru an "information sharing and engagement agreement," Twitter said.

Cohn, who runs the $40 billion (roughly Rs. 2,91,910 crores) hedge fund's US activism practice, was once appointed to the Twitter board in March 2020, as a phase of a deal with the social media corporation to let Chief Executive Jack Dorsey hold his job and enable Elliott to take a board seat. 

Cohn joined the board alongside Silicon Valley tech investor Egon Durban, co-chief of non-public fairness employer Silver Lake. Elliott had until now pushed to dispose of Dorsey after criticizing him for retaining the CEO function at each Twitter and cellular repayments enterprise Square.

After a lengthy length of languishing performance, in which Dorsey admitted Twitter had been gradual to innovate and introduce new features, the platform has greater these days made a slew of bulletins to appeal to extra customers and advertisers.

It has dedicated to doubling its annual income through 2023, and closing week added its first subscription product, Twitter Blue, which lets customers edit tweets and personalize their app.