What you need to know
- Twitter co-founder and former CEO Jack Dorsey has stepped down from his role on the board.
- Twitter is in the middle of a hostile takeover by Tesla and SpaceX CEO Elon Musk.
- It's possible that Dorsey could return to Twitter in the future — he is thought to get on well with Musk.
Twitter co-founder and former CEO Jack Dorsey has stepped down from the social network's board of directors, as had been expected after his resignation as CEO.
Dorsey's removing of himself from the Twitter board will likely allow him to spend more time on other projects, including Block, the payment company that he founded and was previously better known as Square. Musk steps down immediately, following Twitter's shareholder meeting.
When reporting the news, TechCrunch notes that one way or another Dorsey had been involved with Twitter since its creation. Today's news also comes amid a hostile takeover of Twitter by Tesla and SpaceX CEO Elon Musk, although it's possible that Dorsey could return in some capacity in the future.
Twitter faces a period of intense change and while Dorsey's leaving of the board might not have a huge impact on the day-to-day running of the company, it's another sign that this isn't the same Twitter we all once knew. Whether that's a good thing or not will depend on your point of view and whether you feel Musk's pending buyout is a net positive, or not.
Whether Dorsey's relationship with Musk, which is thought to be good, means he will ultimately return to the company he co-founded remains to be seen and there's still a chance the latter's buyout might not be completed. Musk recently suggested he could pull the plug following confusion over the number of spam accounts currently on the platform.