South African billionaire Elon Musk has put plans to leave Twitter on hold, saying he will look for someone to take over as CEO of the social media company later this year, Business Insider reports.
In a video call at the World Government Summit in Dubai, Musk talked about his plans for the social network, which he officially headed last October.
“I have to stabilize the organization and make sure it is financially sound and the product plans are clearly articulated,” he said, according to Bloomberg.
“I don’t know, I think probably the end of this year would be a good time to find someone to run the company. I think it will be in a stable position at the end of this year,” said Elon Musk.
He described Twitter as “sort of a startup in reverse,” adding that “work is needed to get Twitter into some kind of stable position and really build a software development engine,” according to the Associated Press.
What Elon Musk said last year about his resignation as CEO of Twitter
On December 18, 2022, the South African billionaire conducted a poll on his Twitter page asking his nearly 130 million followers whether he should step down as CEO of Twitter.
On October 30, just two days after completing the acquisition of the social media platform, Musk announced that he would also be taking on a top management role after one of the first moves he made at Twitter was to fire Parag Agrawal, the company’s chief executive. former CEO, CFO (Chief Financial Officer) Ned Segal and Head of Legal and Corporate Policy Vijaya Gadde.
Musk previously accused the three of misleading him and Twitter investors about the number of fake accounts on the platform.
More than 17 million users of the social media platform voted in a poll conducted by Musk in December, with 57.5% of respondents favoring his departure from the company. The result came after Musk made several controversial decisions on Twitter, prompting a mass exodus of the company’s employees as well as some of its users.
After the poll ended, the South African billionaire said he would respect its results, as he did with another poll conducted on Twitter last year regarding the decision to sell Tesla shares.
“I will resign as CEO as soon as I find someone crazy enough to take the job! After that, I will only lead the software and server teams,” Musk announced on December 21.
Business Insider notes that it is unclear if he has even begun looking for a replacement.
Source: Hot News
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