Elon Musk, the CEO of Twitter, suggested on Wednesday that a new CEO may take over the social media site by the end of 2023, following a “rollercoaster” year since he acquired full ownership.
He made a video address to the Global Government Summit meeting in Dubai, saying, “I’m guessing perhaps towards the end of this year should be good timing to find someone else to head the company.”
“I must stabilize the organization, ensure its well-being, and ensure that the product plan is well-defined. By the end of the year, I believe it should be in a stable position.
Musk invested $44 billion in his preferred social media site, and leaving day-to-day operations would let him to avoid accusations that he is not giving enough attention to his other businesses, particularly Tesla, the electric vehicle manufacturer.
The inventor of Tesla and SpaceX hasn’t really indicated what kind of leader he wants. He only stated that he would limit his own responsibilities to software and server engineering until “someone foolish enough” had taken his place on December 21, when he originally announced his intention to stand down as chief executive.
After Musk assumed control of Twitter on October 27, there have been widespread layoffs, the reemergence of thousands of previously banned accounts, and a flight of large advertisers.
The program has also seen a number of technological hiccups, including one on Sunday where tweets from Elon Musk suddenly took up millions of users’ feeds, including those who weren’t following the businessman.
Sources inside the business told the business news website Platformer that Musk was irritated that US President Joseph Biden’s tweet during the Super Bowl attracted a lot more attention than his own.
Engineers were enlisted to modify Twitter’s algorithm in an effort to address the problem, which resulted in more Musk messages being sent out and raising concerns.
Another instance that happened last week had thousands of users having trouble using Twitter when the social network started allowing paid members to submit tweets up to 4,000 characters.
Despite the challenges, Musk urged users to use Twitter more freely on Wednesday and assured them that the service will impose “the least level of restrictions allowed by law.”
He claimed that once Twitter was under his control, its content filtering would no longer give preference to the liberal ideals or “niche ideology” of the US west coast.
Musk explained his reasons for purchasing Twitter by saying, “I believed it was vital, kind of, for the future of civilisation to attempt to correct that thumb on the scale.”
“It’s fantastic as a platform for communication. To communicate in a honest voice, I would merely promote more conversation, he continued.