Elon Musk Searching For CEO
- Twitter owner and CEO Elon Musk are searching for a new chief executive of the company, sources told CNBC’s, David Faber.
- Musk, who acquired the company for $44 billion in October, has previously said his position as CEO would be temporary.
- In a tweet, Tuesday night, the Tesla and SpaceX CEO confirmed his plans to step down.
Elon Musk, the owner and CEO of Twitter, is looking for a replacement as the company’s CEO, sources told CNBC’s, David Faber.
Musk, who bought the business in October for $44 billion, has previously declared that his role as CEO will only be temporary. Musk stated, “I expect to reduce my time at Twitter and find somebody else to run Twitter over time,” in court in November.
The CEO of Tesla and SpaceX tweeted on Tuesday night to confirm his resignation.
“As soon as I find someone naive enough to accept the position of CEO, I will step down from it! I will then only be in charge of the software and server teams “said he.
A majority of the 17 million respondents to the billionaire’s unofficial poll on Sunday asked Twitter users if he should resign as the company’s CEO said that Musk should do so. He declared on Sunday that he would follow the poll’s findings.
The “Chief Twit,” as Musk has previously referred to himself, asserts that since he took over, Twitter usage has increased to an all-time high and that instances of hate speech have decreased.
To pay for the acquisition of Twitter,
Musk sold shares of Tesla worth billions of dollars this year. Additionally, he has recruited executives, engineers, and lawyers from Tesla, SpaceX, and the Boring Company to support him at Twitter. Musk founded the Boring Company and serves as the CEO of Tesla and SpaceX.
Sen. Elizabeth Warren, D-Massachusetts, expressed concern in a letter to Tesla board chair Robyn Denholm on Monday that Musk and the board might have broken their legal obligations to Tesla shareholders.
The lawmaker, who has sparred with Musk in the past over the idea of a wealth tax, asked the board to answer specific questions about the alleged misappropriation of Tesla resources and conflicts of interest resulting from Musk’s purchase of Twitter.
Musk claimed in a tweet sent out late on Monday that Warren’s election to the Senate had “definitely harmed” the country. Requests for comment from a Warren representative did not immediately receive a response.
NASA Administrator Bill Nelson reportedly asked SpaceX President and COO Gwynne Shotwell earlier this month whether Musk’s “distraction” at Twitter might affect SpaceX’s collaboration with the space agency. She allegedly assured Nelson that it wouldn’t.
A request for comment from Musk did not immediately receive a response.