Jack Dorsey will depart from Twitter's board just as Elon Musk's takeover of the social media platform is set to take effect.
The co-founder of Twitter, who has echoed some of Musk's free speech stances in recent weeks, will leave the board on Wednesday. Dorsey stepped down from his position as Twitter's CEO in 2021 but remained on the board of directors, according to TheStreet.
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BREAKING: Jack Dorsey will leave Twitter's board today— TheStreet (@TheStreet) May 25, 2022
Dorsey echoed Musk's statement that he does not support permanent bans on the social media platform, noting the banning of former President Donald Trump's account "shouldn't have been" a "business decision." Musk said he would reverse Trump's ban from the platform, describing the ban as a "morally bad decision and foolish in the extreme" on May 10.
The Tesla CEO struck a deal in April to purchase the platform for $44 billion, which Dorsey praised, calling Musk the "singular solution I trust" to take the platform "back from Wall Street."
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Dorsey's departure comes two weeks after two Twitter executives, Kayvon Beykpour, the general manager of consumer products, and Bruce Falck, the general manager of revenue, left the company. Beykpour was asked to leave by Twitter CEO Parag Agrawal.
Musk placed his bid to take over Twitter on hold on May 17 with the contingency that the company's filings on the number of fake or spam accounts on the platform were "accurate." He has suggested the price be adjusted based on the percentage of fake accounts on the platform.