Twitter Inc CEO Elon Musk yesterday said a new CEO might be running the online platform by the end of this year, after a “roller coaster” since he took its full ownership last year.
“I’m guessing probably towards the end of this year should be good timing to find someone else to run the company,” Musk told the World Government Summit in Dubai, United Arab Emirates.
“I need to stabilize the organization and make sure it’s in a healthy place and that the product roadmap is clearly laid out... I think it should be in a stable position around the end of this year,” he said.
Photo: Reuters
Musk paid US$44 billion for his favorite social media platform.
Exiting day-to-day operations would allow him to deflect criticism that he is neglecting his other ventures, especially electric vehicle company Tesla Inc, 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.
Photo: EPA-EFE
On Dec. 21 last year, when he first announced his plan 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 Oct. 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 Twitter posts, drawing scrutiny from regulators and chasing away big advertisers, Twitter’s primary source of revenue.
“It has been a roller coaster,” Musk told the Dubai conference.
Last week, thousands of Twitter users reported problems using the platform as it began letting paying users post tweets as long as 4,000 characters.
US tech media reported that Musk put out word to Twitter staff to put aside work on new features to focus on troubleshooting.
Despite the difficulties, the Twitter owner encouraged more communication.
“As a forum for communication, it’s great. And I would just encourage more communication ... to sort of speak in an authentic voice,” he said. “Sometimes, people will have someone else be their sort of Twitter manager or something like that. People should just do their own tweets... I think that’s the way to do it.”
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