Elon Musk: Find New Twitter CEO by Year’s End

• Elon Musk announced his intention to step down as CEO of Twitter in December, with the intention of finding someone else to run the company by the end of 2023.
• In a poll conducted in December, over 60% of those questioned supported his resignation due to concerns about him being distracted from Tesla.
• Since purchasing Twitter last October, Musk has fired around 50% of its employees and tried to implement Twitter’s paid verification component before suspending it.

Elon Musk Steps Down as CEO of Twitter

Elon Musk announced in December of last year that he will step down as CEO of Twitter once a replacement is found, but will continue to operate some important divisions of the popular social media network. He tweeted at the time that he would quit as chief exec as soon as he found “someone foolish enough” to assume the post.

Poll Results Support Resignation

After conducting a survey of his followers in December, Elon Musk announced his intention to relinquish control of Twitter. In that poll, over 60% of those questioned supported his resignation due to concerns about him being distracted from Tesla.

Controversies After Takeover

Musk’s $44 billion acquisition of Twitter last October was marred by turmoil and debate. Since purchasing the social media site, he has fired around 50%of its employees and tried to implement Twitter’s paid verification component before suspending it.

Finding A Replacement

Musk stated last year that finding someone to take over Twitter could be difficult. He reportedly told remaining employees that the company might suffer “net negative cash flow of several billion dollars” in 2023 and that “bankruptcy is not out of the question” after letting go personnel last summer.

Good Timing To Find New CEO By End-2023

On Wednesday ,the billionaire again making public his intention to stand down, saying it would be “good timing”to find someone else to runTwitter bythe endof2023 , whe he believes the social media networkto be stable .