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Calls for Elon Musk to step down as CEO have been growing for weeks.
On December 20, billionaire Elon Musk said he would step down as CEO of Twitter after finding a replacement. “I will resign as CEO as soon as I find someone stupid enough to take this job! Then I will just run the software team and the server,” Musk wrote on Twitter.
This is the first time Musk has mentioned resigning as Twitter’s CEO after users of the platform voted in favor of the 51-year-old billionaire leaving his position to run the company in a poll he created himself. on last weekend.
Calls for Musk to step down as CEO have been growing for weeks. Tesla investors have also repeatedly expressed concern about Musk’s excessive focus on Twitter and neglect of Tesla, where he plays a key role in product design and engineering.
Ross Gerber, a longtime Tesla investor, wrote a question aimed at Tesla’s CEO on Twitter, saying: “Who is running Tesla on a daily basis during this critical time for the company? There’s really nothing wrong with Tesla. The problem lies with the CEO who is working at another company. Certainly Tesla deserves a more focused CEO. It would be helpful for investors to know about Elon’s plans.”
At a court hearing last month, Musk said he’s spent most of his recent time focusing on Twitter, the company he bought for $44 billion at the end of October.
Shares of Tesla fell 54.31% this year through December 13, making it the worst year on record. The drop in Tesla shares has blown Musk’s title of the world’s richest person on the Forbes list.
Some Tesla investors have urged Musk to focus more on the company as its share price continues to fall amid growing recession fears and cost pressures from high inflation. Tesla has also scaled back its delivery plans. The company’s stock has fallen about 28% since Musk’s acquisition of Twitter ended in late October.
To reassure, Musk wrote on Twitter on December 13: “Tesla will be fine in the long term but the macroeconomic waves are uncontrollable. I guarantee that the shareholders of the company will benefit in the long run from Twitter.”
Before announcing that he would leave his post as Twitter executive, Musk himself admitted that he had too much work to do and would find a replacement CEO. However, late last week, the billionaire said he has yet to find a suitable successor because no one wants to run the company just to keep it alive.
At the moment, the list of nominees who can replace Musk as Twitter CEO includes many notable names such as former T-Mobile CEO John Legere, founder of MySpace social network – Tom Anderson or former COO of Facebook – Sheryl Sandberg and former Facebook CTO – Mike Schroepfer.
However, convincing these people to take the position of running a company as “unstable” as Twitter is not easy at all. Therefore, the most potential candidates are said to be Musk’s current associates – the people who have helped him run the company since taking over at the end of October.
Source: Reuters, BI
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