Elon Musk stated, “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 gave say goodbye to information concerning this strategy, consisting of the timeline, just how much power the brand-new chief executive officer would have, as well as whether he would in fact comply with his declaration.
On Dec 20, 2022, Twitter proprietor as well as chief executive officer Elon Musk announced that he would step down as chief executive officer after discovering a person “foolish enough to take the job.” He made this statement after tweeting out a survey on Dec. 18 in which he asked Twitter individuals if he must step down from the duty, including he would “abide by the results of this poll.” Some 57.5% of individuals that elected requested he step down.
Musk made the statement amidst substantial reaction to his decision to put on hold a variety of reporters from the system (they were restored right after), as well as after he gave up a bulk of the firm’s team. Meanwhile, Tesla supply plunged, as well as doubters said Musk’s Twitter dramatization was offering as a significant diversion from his various other responsibilities as Tesla’s CHIEF EXECUTIVE OFFICER. Many speculated Musk was making the statements to soothe Tesla investors.
Musk did not provide a timeline for when he would be changed, neither was it clear that he would follow up on the pledge. However, unrevealed resources informed CNBC that he had actually been proactively searching for a substitute also prior to the Twitter survey.
It was additionally vague if Musk would in fact quit power to a brand-new chief executive officer, considering that Musk would still have straight control over the firm. Twitter is primarily comprised of “software & servers,” The Verge noted, the location Musk stated he would concentrate on when he was no more chief executive officer.
While Musk declared he will certainly be tipping far from his duty as CHIEF EXECUTIVE OFFICER, there were no information concerning when he would do so, just how much he would deliver control of the firm, as well as that his substitute would be.
In short, while we rank his statement as “Correct Attribution”– he in fact stated it– much stayed vague at the time of this coverage.
Sources:
Capoot,Ashley “Elon Musk Actively Searching for a New Twitter CEO, Sources Say.” CNBC, 20Dec 2022. Accessed 21Dec 2022.
Clark,Mitchell “Elon Musk Isn’t Serious about Giving Power to a New CEO.” The Verge, 21Dec 2022, 21Dec 2022.
Fung,Brian “Elon Musk Says He Will Step down as Twitter CEO — Once He Finds a Replacement.” CNN, 21Dec 2022, 21Dec 2022.
Kolodny,Lora “Elon Musk Tries to Explain Why Tesla Shares Are Tanking.” CNBC, 20Dec 2022. Accessed 21Dec 2022.
Mac, Ryan, as well asKate Conger “Elon Musk Says He Will Resign as Twitter C.E.O. When He Finds Successor.” The New York Times, 21Dec 2022. 21Dec 2022.
Sorkin, Andrew Ross, et al. “Elon Musk’s Succession Plan Comes with Strings Attached.” The New York Times, 21Dec 2022. 21Dec 2022.
