Jack Dorsey to reportedly step down as Twitter CEO

Jack Dorsey, the CEO and one of the founders of Twitter, is expected to step down from his role ... causing the company's stock to make a massive jump.

A report from CNBC says Dorsey -- who is both the CEO of Twitter and Square -- is expected to step down from his executive role with Twitter as early as Monday. After the news, the stock jumped 11%. 

It was just last year when Elliott Management -- the Twitter stakeholder -- had wanted Dorsey to step down, under the belief it was hard for him to effectively run both Twitter and Square at the same time. Both had come to an agreement back then to keep Jack on, but clearly, they've now decided differently.