Twitter Chief Executive Officer Jack Dorsey expected to step down, CNBC reported, citing sources. Twitter CEO Jack Dorsey expected to step down.
Shares of the microblogging platform surged 10% in premarket trading.
According to the source, Dorsey and Twitter's Board have settled on his successor.
Twitter was not immediately available for comment.
In early 2020, Dorsey faced calls from Elliott Management Corp to step down, after the hedge fund argued he was paying too little attention to Twitter while also running payments processing company Square Inc.
Dorsey fended off this pressure by giving Elliott and its ally, buyout firm Silver Lake Partners, seats on Twitter's board.
