Trump-linked Digital World Acquisition Corp fires CEO Patrick Orlando
Publishing timestamp: 2023-03-22 13:44:06
Summary
DWAC has fired its CEO, Patrick Orlando, citing "unprecedented headwinds" that necessitated leadership change in order for the company to enter a "new phase." The company has been under investigation by the Securities and Exchange Commission and federal prosecutors in New York City, and has faced financial struggles. DWAC had aimed to merge with Trump Media and Technology Group, but has delayed finalizing that deal and secured a deadline extension until September 2023. The news of Orlando's termination comes as Trump faces potential indictment in Manhattan over a hush money payment to porn star Stormy Daniels before the 2016 election.
Sentiment: NEGATIVE
Keywords: donald trump, orlando, technology, rumble inc, social media, digital world acquisition corp, politics, business news, media, business,
Source: https://www.cnbc.com/2023/03/22/trump-linked-digital-world-acquisition-corp-fires-ceo.html