Is Musk going to Resign as Twitter CEO and Focus on Engineering Teams

Is Musk going to Resign as Twitter CEO and Focus on Engineering Team Learn more

[{"selector":"#anim-b78dde1f-ddca-43c8-bffc-7f81f399eda9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Elon Musk confirmed he will step down as Twitter Inc.'s CEO once a replacement has been found, but he intends to maintain influence over the company's engineering teams.

[{"selector":"#anim-12905c0e-a24c-42e4-a820-091b99bfc58a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] About 5,000 of Twitter's 7,500 employees have been let go or fired since Musk became ceo in October.

[{"selector":"#anim-61fbb41b-2198-4f44-84ed-97b2012b777e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] After losing a straw poll he held on the social media platform asking whether he should give up his position as the company's CEO, the billionaire entrepreneur started looking for a replacement CEO, according to a person familiar with the matter.

[{"selector":"#anim-91086e33-c33b-45b2-bff8-a0c617921f30 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Results came in early on Monday, and more over 10 million votes, or 57.5%, were cast in favour of Musk resigning.

[{"selector":"#anim-1aa2dff6-6289-438a-b3ed-abfba40ab4a9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Musk has been almost single-handedly running Twitter since he bought it in October this year for $44 billion

[{"selector":"#anim-58812006-c5f9-4ad4-91f8-dec0cf58f780 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] He stated early on that he didn't intend to serve as CEO indefinitely, and he has surrounded himself with a select group of people he can trust.

[{"selector":"#anim-afdfe59f-5656-431f-a8f1-134ca04106cc [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The investor and podcaster Jason Calacanis and the former PayPal Holdings Inc. executive David Sacks are among those who have remained in Musk's inner group.