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Elon Musk says he will find a new leader for Twitter

On Wednesday, Elon Musk said he expects to reduce his time at Twitter and eventually find a new leader to run the social media company, adding that he hopes hopes to complete the restructuring of the organization this week.

Musk made the remarks while testifying in a Delaware court to defend against claims that his $56 billion payment package at Tesla Inc was based on performance targets that were easily achievable and had been approved by the board of directors. compliance director approved.

However, Musk later said in a tweet that he would continue to run Twitter until it was in a strong position, although it would “take some time”.

Musk’s tweet came after former CEO Jack Dorsey said he would not take the role of CEO of Twitter. Responding to a Twitter user when asked if he would take the CEO position, he said “no”.

Tesla investors are increasingly concerned about the time Musk spends turning Twitter around.

“There was a series of initial activities required after the acquisition to reorganize the company,” Musk said in his testimony. “But then I hope to reduce my time at Twitter.”

Musk also acknowledged that some Tesla engineers are assisting with reviews of Twitter’s engineering teams, but he said it’s on a “voluntary basis” and “after hours.”

The billionaire’s first two weeks as the owner of Twitter have been marked by rapid change and chaos. He quickly fired Twitter’s predecessor CEO and other senior executives, then laid off half of the staff earlier this month.

Musk sent an email to Twitter employees early Wednesday, telling them they needed to decide by Thursday whether they wanted to stay at the company to work “high intensity hours” or receive a severance package consisting of three months’ salary.


Reporting by Hyunjoo Jin and Tom Hals; Additional reporting by Akanksha Khushi. Written by Sheila Dang; Editing by Chizu Nomiyama, Richard Chang and Dhanya Ann Thoppil



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