Musk Hopes To Name Twitter CEO By Year's End

Elon Musk is aiming to find his successor to lead Twitter Inc. as chief executive officer toward the end of 2023, reports Bloomberg.

“I need to stabilize the organization and just make sure it’s in a financially healthy place and the product road map is clearly laid out,” Musk said via a remote video link to the World Government Summit in Dubai on Wednesday.

Since taking over in October, Musk has said that he plans to step aside at some point, but had never specified a timeline. After handing over the reins, Musk has said his priority will be to emphasize Twitter’s engineering as owner. The billionaire executive embarked on a search for a new CEO in December, a person familiar with the search said at the time.

“I’m guessing towards the end of this year should be a good timing to find someone else to run the company,” Musk said. “I think it should be in stable condition around the end of this year.”

Musk committed to handing off the Twitter reins after running a poll of his followers in December.

 

Close to 60% were in favor of the billionaire stepping down — motivated in part by concern about him being distracted from Tesla Inc. At the time, he said it was a matter of finding “someone foolish enough to take the job.”

Still, the CEO of Tesla, Twitter and Space Exploration Technologies Corp. has a track record of missing his own deadlines and promised delivery times, including for new products such as the Cybertruck or software capabilities such as fully autonomous driving.

“Twitter is still somewhat of a startup in reverse,” Musk said. Lots of work is needed to get Twitter to a “stable position.”

Musk, 51, was interviewed virtually by Mohammad Abdullah Al Gergawi, the United Arab Emirates’ minister of cabinet affairs who is chairman of the summit. He took Twitter private in a $44 billion deal, and is the world’s second-richest man with a personal fortune of $187 billion, according to the Bloomberg Billionaires Index.