quote:

Activist investor Elliott Management Corp. has taken a sizable stake in Twitter Inc. and plans to push for changes at the social media company, including replacing Chief Executive Officer Jack Dorsey, according to people familiar with the matter.

The New York-based firm has nominated four directors to Twitter’s board, said the people, who asked to not be identified because the matter isn’t public.

There are only three seats becoming available at this year’s annual meeting but Elliott wanted to ensure that it nominated enough directors to fill all three seats or any other vacancies that may arise, the people said. The exact size of Elliott’s stake couldn’t be determined.