In Response To Elon Musk's Offer, Jack Dorsey Thinks Twitter's Board Has Burdened The Company

Twitter Inc founder, Jack Dorsey, (photo: twitter @jack)

JAKARTA - Twitter Inc founder Jack Dorsey took aim at the social media company's board in a series of tweets late Monday, April 17, for weighing on Elon Musk's $43 billion takeover bid.

Dorsey, who is also a member of Twitter's board, added to the chatter on the micro-blogging platform last week when he said that Twitter's board "has consistently led to corporate dysfunction."

In response to a tweet on Monday asking why he didn't "do anything" when he was Twitter's CEO, Dorsey expressed frustration at his limited ability to speak freely.

"So much to say... but nothing to say," Dorsey tweeted.

Dorsey's tweet comes after two weeks of turbulence at the social media company that began when Musk disclosed his 9.2% stake in Twitter and then made a buyout offer for the micro-blogging platform. On Friday, April 15, the board adopted a "poison pill" to limit Musk's ability to increase his stake in the company.

“I really wish I could break through all the abstraction here and answer you but alas and woe,” Dorsey tweeted in response to another thread urging him to share his thoughts.

Tesla Inc CEO Elon Musk is considered to have been particularly vocal in his criticism of Twitter's strategy and its board. He tweeted on Monday that the Twitter board member's salary would be $0 if his bid is successful. This salary write-off will result in savings of USD 3 million (IDR 43 billion) annually.

According to a Reuters report, apart from Musk, there are other potential buyers, such as private equity firm Thoma Bravo, who are also considering a buyout offer for Twitter.

Dorsey himself now serves as CEO of Square and occupies a seat on Twitter's board. His term will end in May or at the company's upcoming annual meeting.