Twitter CEO Elon Musk has resigned.
Although he added a condition that he would step down as soon as he found a successor, it is very likely that he will withdraw from management sooner or later.
According to Reuters on the 20th (local time), Musk said on his Twitter, “I will resign as CEO as soon as I find someone foolish enough to take over.”
Regarding this, Reuters interpreted Musk’s resignation as an expression of his intention to continue operating some key departments.
After Musk, the founder of Tesla, an electric car company, took over Twitter for $44 billion (about 56.5 trillion won) in October, Tesla’s share price has plunged about 60% from its peak this year. In addition, it caused noise and conflict with mass layoffs of Twitter employees and unilateral account deletion.
Musk launched a paid verification service called ‘Twitter Blue’ to increase sales, but it backfired. He also unilaterally suspended and restored the accounts of reporters from leading media outlets, including CNN and the Washington Post.
As the turmoil continues, some investors have called for Musk to step down as CEO of Twitter.
On the 19th, Musk took a poll on his Twitter account about whether he would step down as CEO.
More than half of the 17,502,391 respondents, 57.5%, voted in favour. Although he promised to stick to the results, he did not name when he would step down or who his successor would be, but he did mention his resignation for the first time that day.
Meanwhile, Tesla, Twitter, and SpaceX, three companies where Musk is CEO, were involved in unfair dismissal lawsuits. Workers broke off due to large-scale layoffs and workers who left due to high-intensity work conditions filed lawsuits against the company and Musk.
/ Reporter Chae Su-jong of Fortune Korea bell@fortunekorea.co.kr
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