Elon Musk took over as Twitter’s CEO last fall, but he revealed early on that he doesn’t plan to keep the role long-term, even though he owns the company. He also conducted a survey, in which even Twitter users told him they didn’t want him to remain in the CEO role. Now, Musk has revealed that he plans to leave that role to someone else, but not before stabilizing the company.
Musk prepares to step down as Twitter CEO
According to Musk, he will remain in the CEO role until at least 2024. He says that in 2023 he wants to stabilize the company to ensure it is in a good place financially and that there is a plan for its future. Once those goals are set, Musk will look for someone to replace him at Twitter.
This move isn’t exactly typical for Musk, as he also serves in the CEO role at Tesla and SpaceX, his most successful companies. However, Twitter seems to be more of a “toy” of sorts for the billionaire than a very serious business, despite the fact that he spent over $40 billion to acquire it. Recently, Twitter’s algorithm was “accidentally” changed to show Musk’s posts in users’ newsfeeds first. Rumour has it that the reason Musk tried to push his posts further up the feed is because of the popularity of US President Joe Biden’s posts, which appeared more often and higher up in Twitter news feeds.
Still, Twitter has no clear direction. Plans for Blue subscriptions are constantly changing, Musk is constantly hiring and firing people, and new features come and go on a daily basis. Even though Twitter is an old company, it has acted more like a startup since Musk has been at the helm.