Twitter CEO Jack Dorsey is expected to step down from his executive role, sources tell CNBC’s David Faber.
Twitter stock was up on the news before being halted due to news pending.
Dorsey, 45, currently serves as both the CEO of Twitter and Square, his digital payments company.
It’s unclear who’s set to succeed Dorsey or the timing of a potential announcement. It’s also unknown why Dorsey, 45, would take a step back. But if he steps down, the next CEO will have to meet Twitter’s aggressive internal goals. The company said earlier this year it aims to have 315 million monetizable daily active users by the end of 2023 and to at least double its annual revenue in that year.