Twitter Inc. on Wednesday named Mimi Alemayehou as a new independent director to the company’s board, effective immediately.
Alemayehou, who has more than 20 years of investment and finance experience in emerging markets that includes expertise on Africa, replaces Elliott Management Corp.’s Jesse Cohn. Cohn joined Twitter’s board last year after the activist investment firm disclosed a sizable stake in the microblogging company in a bid to oust Twitter Chief Executive Officer Jack Dorsey and other company executives. Both sides eventually reached an agreement, along with private equity firm Silver Lake, after Twitter put into place more aggressive revenue and user growth goals. Twitter shares are up 10% this year. The broader S&P 500 index has gained 12% in 2021.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.