Criticize Twitter founder and former president, Jack Dorseythe company’s board even as embattled executives wrangle over whether to accept billionaire Elon Musk’s $43 billion bid to buy the social media platform.
Dorsey’s criticism of the board came in response to a post in which one user ridiculed that the company’s “early start” was “mired in intrigue and coups” among its founding CEOs.
“It’s always been dysfunctional in the company,” Dorsey wrote in a tweet.
Later, when another user asked him if he was “allowed to say that, on the Twitter board of directors”, Dorsey replied “No”.
In another tweet, Dorsey wrote, “You got the truth,” in response to a follower who quoted venture capitalist Fred Destin: “Good boards don’t create good companies, but a bad board will kill a company every time.”
The tweets were among the most direct criticism so far from Dorsey, who resigned from his second term as Twitter’s CEO last November.
Dorsey will also leave Twitter’s board of directors when his current term ends at the company’s annual shareholder meeting in late May, according to the New York Post, which was seen by Al Arabiya.net.
Dorsey did not comment directly on Musk’s offer to buy Twitter.
This comes following the world’s richest man made an offer to buy Twitter at $54.20 per share last week, following he withdrew from taking a seat on the company’s board of directors following disagreements over its future.
Before Musk refused to join Twitter’s board of directors, Dorsey tweeted that he was “really happy” that Musk had joined the company.
Meanwhile, Musk escalated his criticism of Twitter’s board of directors following it adopted a “poison pill” policy to limit its ability to get more shares, as the Tesla CEO demanded that the Twitter board allow shareholders to vote on his offer.
The billionaire responded to a user who shared an infographic showing that Chairman Brett Taylor and other board members own only a small portion of the company’s stock, saying, “With Jack gone, the Twitter board collectively owns virtually no stock! Objectively speaking, the Their economic interests simply do not align with the shareholders.”
In another tweet, Musk indicated that he would cut the salaries of all board members to zero if his offer was accepted.
Musk currently owns roughly 9% of Twitter, while Dorsey owns just over 2.2%, according to FactSet data.
It is not clear how Musk will proceed if Twitter rejects his offer, though he said last week he had a “plan B” in mind – which might include a direct bid to shareholders.
