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Twitter boss Elon Musk says he is ready to vacate the CEO position by end of 2023.
Speaking at the World Government Summit in Dubai via video link, Musk said he needs to “stabilize the organization” and “make sure it’s in a financially healthy place” before appointing a successor.
“I think I need to stabilize the organization and just make sure it’s in a financially healthy place and that the product roadmap is clearly laid out,” Musk said. “I’m guessing probably towards the end of this year should be good timing to find someone else to run the company because I think it should be in a stable position around the end of this year.”
Since Musk took over, reports have it that revenue has dropped immensely as a result of advertisers shunning the platform. Alternatively, he has devised ways to improve Twitter as a way to generate more revenue.
However, this isn’t the first time Musk has spoken about stepping down from the top executive position. According to sources that spoke to Bloomberg, the billionaire is actively looking for a person to be the Twitter CEO with the transition expected to happen towards the end of the year.
Musk’s absence at Tesla has been making some investors in the electric car company nervous.On his part Musk said Space X and Tesla require less work attention than the new acquired Twitter.
Elon Musk called Twitter “a startup in reverse” during the World Government Summit, adding that the social network still needs lots of work to be “in a stable position”. He currently works seven days a week with six hours of sleep, and he aspires to do “a mere 80 hours working week”.
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