Elon Musk has announced that he will step down as CEO of Twitter as soon as a worthy replacement is found. Last Sunday he conducted a poll on whether he should resign, and Twitter users overwhelmingly voted for his resignation.
So far, there is no timeline for when Musk will hand over the reins of power. And as his tweet says, that requires finding “someone foolish enough to take on the job.”
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.
— Elon Musk (@elonmusk) December 21, 2022
It is suggested that the changes may be largely “cosmetic”. Musk tweeted that he plans to stay on and lead the software and server development teams. And there is no sign that he plans to sell the company, which he bought in October for $44 billion and quickly took private. So it is clear that he plans to continue to participate in the management of Twitter, but it is not clear to what extent.
Whoever ends up as CEO will be taking over a company that is almost unrecognizable from what it was just a few months ago. Approximately 70% of the staff were laid off or resigned. Advertisers have left the platform as hate speech and trolls continue to thrive. And content moderation and security efforts have completely failed.