Elon Musk said he expected to reduce his time at Twitter and eventually find a new leader to run the social media company, adding that he hoped to complete an organizational restructuring this week
Tesla investors have been increasingly concerned about the time that Musk is devoting to turning around Twitter."There's an initial burst of activity needed post-acquisition to reorganize the company," Musk said in his testimony. "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." The billionaire' s first two weeks as Twitter's owner has been marked by rapid change and chaos. He quickly fired Twitter's previous chief executive and other senior leaders and then laid off half of Twitter's staff earlier this month.early Wednesday, telling them they needed to decide by Thursday 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.
Reporting by Hyunjoo Jin and Tom Hals; Writing by Sheila Dang; Editing by Chizu Nomiyama and Richard ChangAward-winning reporter with more than two decades of experience in international news, focusing on high-stakes legal battles over everything from government policy to corporate dealmaking.
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