Twitter appoints new board member to replace Elliott’s Cohn

Twitter Inc on Wednesday appointed development finance executive Mimi Alemayehou to its board of directors to replace Elliott Management partner Jesse Cohn, after the activist hedge fund helped create a blueprint for changes that led to a doubling of the social media firm’s share price.

Alemayehou will join the board immediately and Cohn will step down, the company said in a release. Elliott, one of Twitter’s top 20 investors, will continue to engage with senior management and the board through an “information sharing and engagement agreement,” Twitter said.