An activist investor is reportedly preparing a plan to oust Twitter CEO Jack Dorsey, and the stock is rising (TWTR)

AP Photo/Jose Luis Magana

• Paul Singer, founder of investment firm Elliot Management is planning to oust Twitter CEO Jack Dorsey, Bloomberg reported on Friday.
• Singer is reportedly seeking to push Dorsey out in part because of his time being divided between running Twitter and Square, as well as his stated plans to move to Africa this year.
• Singer's firm has taken a large stake in Twitter and has nominated four directors to its board, Bloomberg reported.
• Twitter's stock rose more than 7% in after-hours trading following the news.
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Paul Singer, founder of investment firm Elliott Management, is seeking the removal of Twitter CEO Jack Dorsey, Bloomberg reported on Friday.

Singer's firm has taken a substantial stake in Twitter and has nominated four directors to its board, Bloomberg reported.

See the rest of the story at Business Insider

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