Twitter Takeover Battle: Elon Musk—And Jack Dorsey—Turn Up Pressure On Board

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Twitter Takeover Battle: Elon Musk—And Jack Dorsey—Turn Up Pressure On Board
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It's not unusual for an assailing investor like Elon Musk to attack the board. It's much stranger for cofounder Jack Dorsey, a board member, to publicly criticize the board.

... [+]After Twitter’s board on Friday moved to shore up defenses against Elon Musk’s hostile takeover bid, Musk has sought to use the company’s platform against it, launching a series of critical tweets this weekend at the board that sought to characterize the directors as irresponsible.

What’s more unusual is who else was lobbing complaints: Jack Dorsey, the Twitter cofounder who left as CEO only in November and remains a board member until next month. Dorsey labeled the board as “consistently the dysfunction of the company” and said he agreed with venture capitalist Gary Tan’s statement that a badly run board “can literally make a billion dollars in value disappear.” When another Twitter user asked Dorsey if he was allowed to be speak publicly this, Dorsey had a clear response. “No,” heMusk sought to paint the board as out of touch with the company’s best interest by noting their small holdings in Twitter stock.

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