The billionaire Elon Musk announced on Tuesday that he will stand down as Twitter Inc.’s CEO once he finds a replacement, although he will continue to oversee some crucial departments of the social media network.
“As soon as I find someone naive enough to accept the position of CEO, I will step down from it! I will then only be in charge of the software and server teams “Musk tweeted something.
Some investors have questioned if Musk is too preoccupied to properly operate his electric vehicle automaker Tesla Inc., in which he is actively involved in production and engineering. Musk’s $44 billion buyout of Twitter in October has been defined by upheaval and controversy.
After Twitter users chose for him to stand down in a poll that Musk started on Sunday night, Musk has now publicly acknowledged leaving his position as the social media platform’s CEO for the first time.
17.5 million individuals participated in the poll, and 57.5% of them chose “yes.” Musk declared on Sunday that he will follow the outcomes. He has not specified a date for his resignation, and no replacement has been named.
Let’s see what people have to say about this:
Wall Street has been calling on Musk to leave for weeks, and more recently even Tesla supporters have questioned his focus on social media and whether it would be a distraction from operating the EV manufacturer.
Musk has acknowledged that he has too much on his plate and that he will search for a new CEO of Twitter. But he claimed on Sunday that there was no one in place to take his place and that “no one wants the position who can truly keep Twitter alive.”