Elon Musk Supports Twitter CEO

(RTTNews) - Tesla and SpaceX CEO Elon Musk has publicly come out in support of Twitter CEO Jack Dorsey after recent reports of activist investor firm Elliott Management Corp. seeking his removal from the role.

Paul Singer, the founder of hedge fund Elliott, is said to have already taken a near 5 percent stake in Twitter for more than $1 billion and nominated four directors to the Twitter Board. Companies like Elliott are known to make investments in large companies and push for governance and strategy changes.

Elliott has been pressing for a full time CEO at Twitter, rather than having Dorsey splitting his attention between the role of heading Twitter and as CEO of mobile-payments startup Square Inc. Dorsey is also reportedly moving temporarily to Africa.

Backing Dorsey as CEO of Twitter, Musk wrote in a tweet, "Just want say that I support @Jack as Twitter CEO. He has a good," adding a heart emoji.

Along with Musk, Twitter employees and a vocal group on the micro-blogging site have also been voicing their support for Dorsey with the hashtag #webackjack.

Last month, Twitter reported a profit for the fourth quarter, which missed analysts' estimates. However, it recorded a year-over-year growth in monetizable daily active usage (mDAU) of 21 percent, with quarterly revenue in excess of $1 billion, with particular strength in US advertising.