CEI - Is Elon Musk Stepping Down as Head of Twitter?
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Elon Musk is in the news Monday after the billionaire held a poll asking if he should step down as head of Twitter.
Musk, who bought Twitter earlier this year for $44 billion, sought a simple yes or no answer from the website’s users in his poll. With 17,502,391 submitted, the results showed 57.5% voting yes and 42.5% voting no.
It’s worth noting that Elon Musk has previously spoken about searching for a replacement to lead Twitter. During a court hearing in November, he said he expected to reduce his time at Twitter and find somebody else to run it over time.
In the Tweet containing the poll, Elon Musk said that he intends to abide by the results of the vote. However, that doesn’t mean he plans to step down as head of the social media platform just yet.
Musk Can’t Find a Successor
In several Tweets following that initial poll, Musk has continued to speak about finding a replacement to lead the company. He told one user that the problem isn’t finding a CEO, but instead, it’s finding one that “can keep Twitter alive.”
When responding to another Twitter user, Musk made a similar comment as before. He claims that “No one wants the job who can actually keep Twitter alive. There is no successor.” This seems to imply that Musk will continue to lead the company for some time, despite the results of the poll.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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