![]() ![]() But Dorsey’s exit marks the first time in Twitter’s history that none of its co-founders is working at the company, or sitting on the board. It wasn’t a surprise that Dorsey didn’t stand for reinstatement to the panel - in November he said would step down as CEO as well as leave the board when his term expired. ![]() He has been a director since 2007, and was most recently Twitter CEO from mid-2015 until his resignation last year. Durban’s resignation and provide an update in due course.”įormer Chief Executive Officer Jack Dorsey did not stand for re-election Wednesday, and is no longer a board member, ending his formal relationship with the social network he co-founded in 2006. “The Nominating and Corporate Governance Committee of the Board will promptly consider whether to recommend that the Board accept Mr. “Egon Durban has tendered his resignation to the board,” a Twitter spokesperson said. But the board has the power to reject the resignation, leaving the nominee as a director, according to the proxy statement. The company requires board nominees to offer an “irrevocable resignation” in advance of the voting, which would kick in if a nominee failed to win the approval of shareholders and the board accepted the resignation. Institutional Shareholders Services Inc., an advisory firm, had recommended against Durban’s re-election because he serves on the boards of “more than five publicly-traded companies.”ĭurban, however, may still remain a Twitter director despite failing to receive a majority of shareholder votes, according to Twitter’s proxy statement. director Egon Durban, the co-Chief Executive Officer of private equity firm Silver Lake, failed to get enough votes for re-election to the board during the company’s annual shareholder meeting Wednesday. ![]()
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