The former Twitter CEO said he was “very happy” that Elon Musk was set to become a member of the company’s board.
As tensions between Twitter’s board escalated over Tesla CEO Elon Musk’s $ 43 billion offer to buy the social network, Jack Dorsey, the founder and former CEO of Twitter, criticized the company’s performance.
Jack Dorsey made the remarks in response to a user tweet.
The user mockingly wrote that Twitter had “drowned in the” conspiracies and coups “of its executives early in its work.”
“This has always been one of the inefficiencies of the company,” Dorsey said in response to the tweet.
Another user then asked Dorsey if the Twitter board had allowed him to make such statements. “No,” he replied.
In another tweet, a user quoted Fred Dastin, a prominent American investor, as saying that “a good board does not create a good company, but a bad board will definitely destroy the company.”
“That’s the truth,” Jack Dorsey wrote in response to the tweet.
Dorsey, who owns only 2% of Twitter shares, resigned as CEO in November last year.
He will step down from the company’s board of directors at the end of his current term at the annual meeting of Twitter shareholders at the end of May this year.
He has not yet commented publicly on Musk’s offer to buy Twitter, but has previously tweeted that he is “very happy” that Musk is set to become a member of the company’s board.
Elon Musk announced last week that he was ready to buy the company for $ 43 billion.
Meanwhile, Tesla CEO’s criticism of the company escalated after Twitter’s board approved a “poison pill” to prevent Musk from buying Twitter completely.
Mask is looking for his proposal to be voted on by Twitter board members.
Another user caught the mask by posting a graphic showing the shares of the company’s board of directors on Twitter.
“With Jack gone, the Twitter board will have almost no stake in the company,” Tesla’s CEO wrote in response. “This means that the economic interests of these people are not in line with the economic interests of the shareholders.”
He also stated in another tweet that if his proposal is accepted, he will cut the salaries of all members of the Twitter board.
Mask owns about 9 percent of Twitter, according to FactStat. Dorsey owns only 2% of Twitter.
It is unknown at this time what he will do after leaving the post.