Experts raise concerns about conflicts of interest as Dorsey ascends to head both companies.
You may use twitter to keep up with news and maybe even for online shopping deals. You may use Square as your online payment site of choice. But you’re probably not planning to work as the leader of both companies at the same time.
That is, unless you’re Jack Dorsey. The top executive at Square has been serving as interim chief at Twitter, and is expected to be named Twitter’s permanent CEO today, according to Reuters.
Still, experts worry that the two posts pose serious conflicts of interest. Twitter has already been adopting more e-commerce and payments options since Dorsey joined the company in July. Twitter recently announced a deal with Square that allows its users to make donations to political campaigns, and the company is planning to add “buy now” buttons on some tweets.
One expert suggested that if accepting payments becomes a major business for Twitter the conflicts could be insurmountable. Others said that the time commitment that a CEO needs for each company could be seen as a conflict, especially with Square’s IPO expected later this year.
Some investors, however, are backing Dorsey. A spokesman for Rizvi Traverse Management, which has investments in both companies, expressed confidence in Dorsey’s ability to serve as CEO for Twitter and Square simultaneously.
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