Elon Musk, CEO of Tesla and SpaceX, has announced that he will be stepping down as CEO of Twitter after finding a suitable replacement. In a tweet on Tuesday, Musk stated that he will resign as CEO “as soon as I find someone foolish enough to take the job!” and will continue to lead the software and servers teams at the company. This marks the first time that Musk has publicly mentioned stepping down as CEO of Twitter, following a poll launched by the billionaire on Sunday evening in which users voted overwhelmingly for him to resign.
There have been calls for Musk to step down as CEO of Twitter for several weeks, with concerns that his focus on the social media platform is distracting him from properly managing Tesla, where he plays a crucial role in product design and engineering. In fact, even Tesla bulls have recently questioned whether Musk’s involvement with Twitter is taking away from his ability to effectively lead the electric vehicle company. Musk himself has admitted that he has too much on his plate, and has stated that he will be searching for a new CEO for Twitter. However, he has also indicated that finding a qualified successor may be difficult, as “no one wants the job who can actually keep Twitter alive.”
This news comes at a time when Twitter is facing several challenges, including declining user growth and increased competition from other social media platforms. It remains to be seen who Musk will select as the new CEO, and what direction the company will take under their leadership. However, it is clear that Musk’s departure will mark a significant shift for Twitter, and it will be interesting to see how the company adapts to this change.
