New York: Microblogging site Twitter CEO Jack Dorsey is set to resign from his executive role, according to US media reports.
The social media giant was cofounded by Dorsey in 2006. He later went on to become one of the topmost technology entrepreneurs.
The Twitter stock increased by more than 11% as a result of the announcement.
Elliott Management founder and billionaire investor Paul Singer had wondered whether Dorsey should run both of the public companies, calling for him to step down as CEO of one of them, before the investment firm reached a deal with the company’s management.