Twitter is searching for an independent board director after hedge fund Elliot Management’s managing partner, Jesse Cohn, chose to renounce his board seat on the social media platform.
Twitter said it will be consulting with Cohn prior to finalizing a candidate. Cohn, who has been nominated for re-election to the board at the 2021 annual meeting of stockholders, will resign after a new director has been brought on.
A year ago, Twitter bad spoken with Elliott in order to add three new directors for allowing Jack Dorsey to stay on as the CEO, a few days after Elliott had planned on pushing out the company’s chief became public news.
Cohn has been brought in, and private equity company Silver Lake’s co-chief executive officer Egon Durban to its board and plans of bringing on a third director as well.