Twitter CEO, Elon Musk has said Wednesday that he might be able to appoint his successor as Twitter CEO by the end of 2023 but first needs to ‘stabilize’ his social media company.
‘I’m guessing probably towards the end of this year should be good timing to find someone else to run the company,’ he told the World Government Summit conference in Dubai via video.
‘I need to stabilise the organisation and make sure it’s in a healthy place and that the product roadmap is clearly laid out… I think it should be in a stable position around the end of this year.’
Musk took over as CEO of Twitter in October as part of his $44 billion acquisition of the social media firm.
The billionaire indicated late last year that he doesn’t expect to be the CEO of Twitter permanently and eventually will hand over the reins to someone else.
In December, Musk tweeted a poll asking people whether he should step down as the head of Twitter. The majority of the 17.5 million votes said yes.
‘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 tweeted after the poll.
Since Musk took full ownership of Twitter on October 27, the platform has undergone a series of rapid changes, including charging $10 for a blue tick.
Meanwhile, investors in Musk’s other company Tesla are concerned that he may be distracted by the events at Twitter at a time when the automaker is facing demand challenges and increasing competition.
Musk sold off billions of dollars of Tesla stock to fund his Twitter takeover.