Elon Musk says he’ll probably find a new CEO to take over Twitter by year’s end.
During the World Government Summit in Dubai, Musk was asked when he’d identify a new leader to replace him as CEO. “I don’t know, I’m guessing toward the end of this year would be good timing to find someone else to run the company, because I think [Twitter] should be in a stable position at the end of this year,” Musk replied.
In December, Musk promised he’d resign as CEO, after a majority of users in his own poll on Twitter said he should step down. But he refused to bow out immediately, citing the need to “find someone foolish enough to take the job.” (Even before holding his poll, Musk said all along he never planned on leading Twitter as CEO permanently. So essentially, nothing had changed.)
On Wednesday, Musk indicated he can only leave Twitter once it regains some stability. “I think I need to stabilize the organization and just make sure it’s in a financially healthy place and that the product roadmap is clearly laid out,” he said during the World Government Summit.
Ironically, Musk’s tenure at Twitter has been anything but stable. Since taking over the company, he’s laid off or fired about two-thirds of the staff, shut down offices and data centers, and made controversial changes that have alienated advertisers and some users.
Musk defends his actions by arguing that Twitter needs to cut down on costs to stave off a potential bankruptcy. Musk now claims the company is trending to break even this year.
At the World Government Summit, Musk reiterated that his goal is to turn Twitter into an “everything app,” rather than merely a social media platform. The future Twitter will include online payments, secure communications, in addition to being a source of news and “truth,” he said. In the meantime, Musk has been coming up with ways to encourage users to pay for Twitter Blue, the company’s $8-per-month subscription service.