Posted 73 days ago
Billionaire Elon Musk, who recently acquired Twitter, has indicated that he is open to the company being led by another person.
While testifying at a Delaware court defending his $56 billion pay package at Tesla Inc. on Wednesday, Musk revealed that he intends to cut down his time at Twitter and eventually find someone else to head the social media network, according to Reuters.
The billionaire later confirmed that the change in leadership is not something imminent.
“I will continue to run Twitter until it is in a strong place, which will take some time,” Musk said in a Nov. 17 post.
Musk said he plans on completing Twitter’s organizational restructuring by the end of the week. Investors at Tesla have been concerned about Musk spending too much time dealing with the social media platform.
During his testimony, the Tesla founder said that his current time spent at Twitter is only an “initial burst of activity needed post-acquisition to reorganize the company.”
A few engineers at Tesla are also assisting him to evaluate Twitter’s engineering team, something which is happening “after hours” and on a “voluntary basis,” Musk added.
While speaking at the recent Business 20 conference in Indonesia, Musk admitted that he was running Tesla’s global operations with “great difficulty.”... (Read more)