The Chief Executive Officer of the social media platform, Twitter, Elon Musk, on Wednesday, stated that he anticipates finding a new CEO for Twitter “probably toward the end of this year.”
Elon Musk made this known via a video call to the World Government Summit in Dubai.
The Twitter owner who took over barely one year ago said, said making sure the platform can function remained the most important thing for him.
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According to Time on Wednesday, when asked about when he would name a CEO, Musk said, “I think I need to stabilize the organization and just make sure it’s in a financial healthy place, I’m guessing probably toward the end of this year would be good timing to find someone else to run the company.”
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Musk paid $44 billion for Twitter and exiting day-to-day operations would allow him to deflect criticism that he is neglecting his other ventures, especially car company Tesla, which has seen its share price plummet since he took over Twitter.
Musk has given few clues to what type of leader he is looking for. On December 21, when he first announced he planned to step down as CEO, he said only that he would limit his own duties to software and server engineering once “someone foolish enough” had taken his place.
Since Musk took full ownership of Twitter on October 27, the platform has been riven by chaos, with mass layoffs, the return of banned accounts and the suspension of journalists critical of the South African-born billionaire.
Musk’s takeover also saw a surge in racist or hateful tweets, drawing scrutiny from regulators and chasing away big advertisers, Twitter’s primary source of revenue.
