Elon Musk to Step Down as Twitter CEO after Finding Replacement

Elon Musk confirmed he will step down as chief executive of Twitter when he finds a replacement.

Musk, who bought Twitter for $44 billion, launched a Twitter poll asking if he should resign as CEO of the social media giant.

“Should I step down as head of Twitter? I will abide by the results of this poll” Musk posted in a poll on December 18.

The outcome was that around 10 million Twitter users voted in favor of his stepping down as the platform’s chief executive.

Therefore, the billionaire announced on Tuesday that he will resign as Twitter head once he found someone “foolish enough to take the job.”

“I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams,” Musk wrote on Twitter.

For weeks, Wall Street has been calling on Musk to step down, and recently, even Tesla Inc investors have questioned Musk’s focus on the social media platform and whether it is diverting him from effectively managing the electric car firm, where he is key to product design and engineering.