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Kurt Wagner and Scott Deveau, Bloomberg News
(Bloomberg) Elliott Management Corp.âs Jesse Cohn plans to step down from Twitter Inc.âs board once the company can find a replacement.
Twitter is searching for a new independent board director, in line with its âinterest in continuing to enhance the diversity of the board,â to replace Cohn, according to a filing Thursday. Itâs unclear how long the search will take. Elliottâs standstill agreement will remain in effect until Cohn steps down from the board, according to the filing.
Cohn joined Twitterâs board last year after Elliott disclosed a notable stake in the company as part of an effort to replace Chief Executive Officer Jack Dorsey and force Twitter to make other changes to its corporate structure. The parties eventually reached an agreement, along with private equity firm Silver Lake, that saw Twitter implement more aggressive revenue and user growth goals. At an analyst event in February, the
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