Home Business Elon Musk will Step Down as Chief Executive Officer of Twitter

Elon Musk will Step Down as Chief Executive Officer of Twitter

Twitter Elon Musk

On Tuesday, Twitter’s Elon Musk announced that he would step down as a Chief Executive Officer once he finds someone foolish enough to keep the platform alive. 

What is the Complete News?

After a $44 billion takeover of Twitter, Elon Musk has been marked by controversies, whether it is suspension of journalists’ accounts or announcing a fee of $8 for a blue tick. Now, one more announcement about his resignation has come out. 

Elon sarcastically announced his stepping-down news on his Twitter handle. He said he would resign as CEO as soon as he found a replacement enough to take the job. 

The reason behind Elon mentioned about his stepping down as a CEO is a Twitter poll in which the majority of people asked him to resign. 

In the poll, around 57.5% of Twitter users voted yes for Elon Musk should step down as Chief Executive Officer of Twitter. 

His investors also started questioning whether he is distracted from properly running his electric vehicle company, Tesla. 

What’s Next?

However, Elon Musk still needs to provide a time frame for when he will resign as CEO of Twitter. The week was full of changes after the poll results came, including changes to Twitter’s Privacy and the suspension of journalists’ accounts from top news organisations. 

According to a recent report, Twitter’s cash flow will break in 2023. Elon has attributed the projection to cost-cutting measures. However, weeks ago, Wall Street asked him to resign as a CEO. 

Even his investors from Tesla questioned that his focus on Twitter might have distracted him from running his electric motor company. Elon himself has shown his agreement with this. 

He said he had too much on his plate, and that’s why he decided to step down as Twitter’s Chief Executive Officer. And he will resign until he finds a replacement who can actually keep Twitter alive. 

Stay tuned with our Business section for further updates!

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