Elon Musk mentioned on Wednesday he anticipated to cut back his time at Twitter and ultimately discover a new chief to run the social media firm, including that he hoped to finish an organizational restructuring this week.
Musk made the remarks whereas testifying in a Delaware courtroom to defend towards claims that his $56-billion pay bundle at Tesla Inc was based mostly on simple to realize efficiency targets and was authorized by a compliant board of administrators.
Nevertheless Musk later mentioned in a tweet that he’ll proceed to run Twitter till it’s in a powerful place, although it should “take a while.”
Musk’s tweet got here after former CEO Jack Dorsey mentioned that he won’t settle for the function of Twitter CEO. In a reply to a Twitter consumer when requested if he would take the place of CEO, he mentioned “nope.”
Tesla buyers have been more and more involved concerning the time that Musk is devoting to turning round Twitter.
“There’s an preliminary burst of exercise wanted post-acquisition to reorganize the corporate,” Musk mentioned in his testimony. “However then I anticipate to cut back my time at Twitter.”
Musk additionally admitted that some Tesla engineers had been aiding in evaluating Twitter’s engineering groups, however he mentioned it was on a “voluntary foundation” and “after hours.”
The billionaire’s first two weeks as Twitter’s proprietor has been marked by speedy change and chaos. He rapidly fired Twitter’s earlier CEO and different senior leaders after which laid off half its employees earlier this month.
Musk despatched an e-mail to Twitter workers early Wednesday, telling them they wanted to determine by Thursday whether or not they needed to remain on on the firm to work “lengthy hours at excessive depth” or take a severance bundle of three months of pay.
