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Elon Musk on His Resignation as Twitter’s CEO Says “As Soon As…”

Elon Musk on His Resignation as Twitter’s CEO Says "As Soon As…"
  • Elon Musk wrote on Twitter, “I will resign as CEO as soon as I find someone foolish enough to take the job!”

San Francisco, US: On Tuesday, billionaire Elon Musk declared he would be stepping down as Twitter Inc’s Chief Executive Officer once a suitable replacement is identified. Nevertheless, he will remain at the social media company to manage some of its key departments.

Musk Twitted “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.”

October’s $44 billion acquisition of Twitter by Musk has been marred with pandemonium and debate, leaving some investors wondering if he is too preoccupied to effectively govern his electrically powered car manufacturing company Tesla Inc., in which he personally manages production and engineering.

On Sunday evening, Elon Musk initiated a poll inquiring whether he should resign as the chief of Twitter – this is the first time the billionaire mentioned his withdrawal from such an influential position. Much to everyone’s surprise, voters responded by overwhelmingly selecting ‘yes’.

With over 17.5 million people participating in the poll, an overwhelming majority of 57.5% voted “yes”, prompting Tesla CEO Elon Musk to accept their decision and announce he would be stepping down soon. As yet, no successor has been announced by Musk or the company.

After a hectic week that brought about modifications to Twitter’s privacy regulations, the suspension of some journalists’ accounts (quickly followed by their reactivation), and criticism from officials across Europe alongside advocacy groups and news organizations, the poll results were finally revealed.

In recent weeks, Wall Street has been increasingly vocal about its opinion that Elon Musk should step down from Tesla. This sentiment was echoed by even the most Tesla bulls who expressed concern over his preoccupation with social media and how it could distract him from managing the Electric Vehicle company.

Recognizing his workload was too much to handle, Musk declared he would search for a different CEO on Twitter. However, following this declaration on Sunday, he stated that there is no one lined up and that “no one wants the job who can actually keep Twitter alive.”

About the author

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Steven Ly

Steven Ly is the Startup Program and Events Manager at TheNextHint Inc. She recruits rockstar startups for all TC events including Disrupt, meetups, Sessions, and more both domestically and internationally. Previously, she helped produce Dreamforce with Salesforce and Next '17 with Google. Prior to that, she was on the advertising teams at both Facebook and AdRoll, helping support advertisers in North America and helped grow those brands globally. Outside of work, Priya enjoys Flywheel, tacos, the 49ers, and adventuring around the globe.

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