Twitter Puts Board Structure to a Vote, Backs CEO, and Restarts Share Buyback Program
Changes could be afoot in the boardroom of Twitter (NYSE: TWTR). The operator of the popular instant messaging service disclosed in a regulatory filing submitted after market hours on Monday that it's putting the framework of its board of directors up to a shareholder vote, while reaffirming its current management structure. It is also relaunching its suspended share repurchase program.
These updates come at the recommendation of the management structure committee, which was formed in March to evaluate the makeup of both the company's management and its board. The committee is seen as an attempt to placate Elliott Management, the activist investor that took a 4% stake in the company just before the committee's creation.
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Source Fool.com
