Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Elon Musk announces he will step down as Twitter chief executive when replacement found

by December 21, 2022
December 21, 2022
Elon Musk announces he will step down as Twitter chief executive when replacement found

Elon Musk is to resign as Twitter’s chief executive after the platform’s users voted for him to step down.

The tycoon pledged to stop leading the social media group, which he acquired in a $44 billion deal less than two months ago, “as soon as I find someone foolish enough” to take over.

Musk intends to retain oversight of the teams working on software and servers, however, in a clear sign that he wants to remain involved in its day-to-day operations. This raises the prospect of an unorthodox working arrangement with whoever takes his place.

His departure would draw a line under a brief, but remarkable, stint. Since the end of October, Musk has halved Twitter’s workforce by laying off several thousand staff, struggled to push through sweeping changes and leaked internal documents about previous decisions to a handful of journalists.

Twitter users voted decisively this weekend in a poll Musk, 51, set up on whether he should step down; 57.5 per cent of 17.5 million votes were cast in favour. Investors in Tesla, the electric carmaker he leads, have grown concerned that the social network has been distracting the billionaire from the rest of his empire. He also runs SpaceX, the rockets and satellites business.

“I will resign as CEO as soon as I find someone foolish enough to take the job!” he wrote in a tweet on Tuesday evening. “After that, I will just run the software & servers teams.”

Musk had suggested the poll’s results could have been manipulated, and agreed that only paying users of Twitter should be able to vote on its future direction.

His declaration that he plans to stand aside will heighten speculation about who could lead the network. Musk dismissed most of its previous top executives after completing his takeover.

Over the weekend, he suggested that identifying someone else to run the business would be a challenge. “No one wants the job who can actually keep Twitter alive,” he wrote. “There is no successor.”

Read more:
Elon Musk announces he will step down as Twitter chief executive when replacement found

0
FacebookTwitterGoogle +Pinterest
previous post
Rep. Jim Jordan responds after Biden says he will hire more Dreamers to curb inflation: ‘Hire Americans’
next post
Buyers look to return to London as Rightmove crown capital most searched for 2022 location

You may also like

Waspi campaigners threaten legal action as pension compensation...

February 24, 2025

HMRC to close self-assessment helpline for three months

June 9, 2023

Surge in Loan Enquiries for Private School Fees...

June 8, 2024

Crowds on Demand: The Rise of the Gig...

May 20, 2024

Selecting the Right Investment Manager for Your Portfolio

August 17, 2023

London offices lose fifth of their value in...

September 26, 2023

Google hit with record €4bn fine over market...

September 15, 2022

Understanding Email Segmentation: Targeting the Right Audience for...

November 20, 2024

Government-backed council to champion ‘unsung’ mid-sized businesses

December 2, 2024

Getting To Know You: Will Polston, founder, Will...

February 3, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Musk feud presents ‘unprecedented’ dynamic compared to past Trump disputes: expert

      June 7, 2025
    • Snub of Musk’s NASA nominee ally preceded sudden ‘big, beautiful bill’ criticism, Trump feud

      June 6, 2025
    • Supreme Court rules DOGE can access Social Security information

      June 6, 2025
    • US sanctions money laundering network aiding Iran as regime faces nuclear reprimand at IAEA

      June 6, 2025
    • From Tariffs to Tech: Where Smart Money’s Moving Right Now

      June 6, 2025
    • Your Weekly Stock Market Snapshot: What It Means for Your Investments

      June 6, 2025

    Categories

    • Business (8,149)
    • Investing (2,019)
    • Politics (15,556)
    • Stocks (3,134)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved