Musk, who bought Twitter last fall and has been running it since, has long insisted he is not the company\u0027s permanent CEO
In February, he told a conference he anticipated finding a CEO for San Francisco-based Twitter “probably toward the end of this year.”Twitter will charge 10% fee for subscription content, Elon Musk announces
“A new CEO is the only way forward for Twitter,” said Insider Intelligence analyst Jasmine Enberg. “The single biggest problem with Twitter’s ad business was Elon Musk. As he steps back, Twitter can begin to unravel Musk’s personal brand from the company’s corporate image and attempt to regain trust among advertisers.
Last November, he was questioned in court about how he splits his time among Tesla and his other companies, including SpaceX and Twitter. Musk had to testify in the trial in Delaware’s Court of Chancery over a shareholder’s challenge to his potentially $55 billion compensation plan as CEO of the electric car company.
Musk’s tenure at Twitter’s helm has been chaotic, and he’s made various promises and proclamations he’s backtracked or never followed up on. He began his first day firing the company’s top executives, followed by roughly 80% of its staff. He’s upended the platform’s verification system and has scaled back content moderation and safeguards against the spread of misinformation.
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