Elon Musk Ready to Step Down As Twitter CEO As Search for a New Leader Begins
- Elon Musk has decided that he will step down from his position as Twitter main Executive Officer
- Since his takeover of Twitter for $44 billion, Musk has been running the company, making both human and company policies changes
- Musk, however, stressed that it would not be for long as a search for a new leader for Twitter begins
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Elon Musk, the new main man of Twitter, has announced plans to reduce his time at the company and eventually find a new leader.
Legit.ng had earlier reported that Musk paid $44 billion for Twitter in late October. After acquiring the firm, Musk freed the board of directors of their duties and fired the management, which included the former CEO, Parag Agrawal.
Musk hopes to complete an organizational restructuring this week and get a new CEO.
Source: UGC
According to Reuters, Musk promised to find a new CEO for Twitter while testifying in a lawsuit filed by Tesla investors in Delaware against his massive pay package as CEO of the automaker.
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Musk's search for new CEO
One prominent name touted by the public to become the new CEO is former Twitter owner Jack Dorsey.
Dorsey, however, said he would not accept the role of Twitter CEO.
Musk reacted by tweeting that he would continue to run Twitter until it is in a strong place, though it will "take some time." Business Insider reports.
Musk was quoted as telling the court:
"There's an initial burst of activity needed post-acquisition to reorganize the company, but then I expect to reduce my time at Twitter."
Musk also admitted that some Tesla engineers were assisting in evaluating Twitter's engineering teams, but he said it was on a "voluntary basis" and "after hours."
List of Musk's swift Twitter changes
Since taking over the reins of Twitter, the richest man in the world has made very swift changes in just two weeks, one of which calls himself the 'Chief’.
He also quickly fired Twitter's previous CEO and other senior leaders and then laid off half the social media staff.
He also introduced $8 monthly payment for verified users.
The most recent is telling the remaining employees they needed to decide in 24 hours whether they wanted to stay on at the company to work "long hours at high intensity" or take a severance package of three months of pay.
Nigerian banks announce new working days, closing time
Meanwhile, Nigerian banks have announced changes to their operating hours in order to assist Nigerians holding soon-to-expire Naira currencies
The banks have already announced that they have delivered notifications of their working hours via their social media channels and customers' emails
Details of the contents of their emails and changes were captured by Legit.ng in this report.
Source: Legit.ng
