Elon Musk to resign as Twitter CEO


Published: 2022-12-21 11:48

Last Updated: 2024-02-28 05:48

Elon Musk to resign as Twitter CEO
Elon Musk to resign as Twitter CEO

Billionaire Elon Musk announced Tuesday he will step down as chief executive of Twitter once he finds someone “foolish enough” to take the job, however, he will continue to run some key divisions in the company.

"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," Musk wrote on Twitter.

This came after Twitter users voted on Monday to oust controversial owner Elon Musk as CEO in a poll he organized and promised to honor, just weeks after he took charge of the social media giant.

A total of 57.5 percent of more than 17 million accounts voted for him to step down. Musk, who is also the boss of car maker Tesla and rocket firm SpaceX, has not yet responded.

He took over Twitter on October 27 and has repeatedly courted controversy, sacking half of its staff, readmitting far-right figures to the platform, banning journalists and trying to charge for previously free services.

Analysts have also pointed out that the stock price of Tesla has slumped by one-third since the Twitter takeover.

"It's hard to ignore the numbers since [Twitter] deal closed," tweeted investment expert Gary Black, saying he reckoned Tesla's board was putting pressure on Musk to quit his Twitter role.

In discussions with users after posting his latest poll, Musk claimed he had no successor in mind and renewed his warnings that the platform could be heading for bankruptcy.