The billionaire Elon Musk announced on Tuesday that he will step down as Twitter Inc.'s CEO once he finds a replacement, but he will continue to oversee some crucial departments of the social media platform.
"I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams," Musk wrote on Twitter.
Some investors have questioned whether Musk is too distracted to properly run his electric vehicle automaker Tesla Inc (TSLA.O), in which he is personally involved in production and engineering. Musk's $44 billion takeover of Twitter in October has been marked by chaos and controversy.
After Twitter users chose for him to step down in a poll that the billionaire started on Sunday night, Musk has now publicly mentioned leaving his position as the social media platform's CEO for the first time.
17.5 million people participated in the poll, and 57.5% of them chose "yes." Musk had declared on Sunday that he would follow the outcomes. He has not specified a date for his resignation, and no replacement has been named.
The poll results brought to a close a hectic week that saw changes to Twitter's privacy policy and the suspension and reactivation of journalist accounts, both of which drew criticism from news outlets, advocacy groups, and government officials across Europe.
Musk stated in a Twitter Spaces session that Twitter's cash flow will achieve break-even in 2023, according to a tweet from Bloomberg on Wednesday.
Bloomberg tweeted that Musk explained the projection as a result of recent cost-cutting initiatives he has implemented at the social media platform.
Wall Street has been calling for Musk to leave for weeks, and more recently even Tesla supporters have questioned his focus on social media and whether it might be a distraction from running 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 job who can actually keep Twitter alive."
(Source:www.theprint.in)
"I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams," Musk wrote on Twitter.
Some investors have questioned whether Musk is too distracted to properly run his electric vehicle automaker Tesla Inc (TSLA.O), in which he is personally involved in production and engineering. Musk's $44 billion takeover of Twitter in October has been marked by chaos and controversy.
After Twitter users chose for him to step down in a poll that the billionaire started on Sunday night, Musk has now publicly mentioned leaving his position as the social media platform's CEO for the first time.
17.5 million people participated in the poll, and 57.5% of them chose "yes." Musk had declared on Sunday that he would follow the outcomes. He has not specified a date for his resignation, and no replacement has been named.
The poll results brought to a close a hectic week that saw changes to Twitter's privacy policy and the suspension and reactivation of journalist accounts, both of which drew criticism from news outlets, advocacy groups, and government officials across Europe.
Musk stated in a Twitter Spaces session that Twitter's cash flow will achieve break-even in 2023, according to a tweet from Bloomberg on Wednesday.
Bloomberg tweeted that Musk explained the projection as a result of recent cost-cutting initiatives he has implemented at the social media platform.
Wall Street has been calling for Musk to leave for weeks, and more recently even Tesla supporters have questioned his focus on social media and whether it might be a distraction from running 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 job who can actually keep Twitter alive."
(Source:www.theprint.in)
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