Elon Musk could be stepping down from CEO of Twitter after just 8 weeks in the role.
Less than two months after taking over in what has been a turbulent and contentious tenure, Elon Musk has faced blowback from Twitter users who overwhelmingly voted for him to resign as the social media platform’s CEO.
Since taking over in October, Musk has swiftly fired thousands of employees and members of top management, vacillated over how much to charge for Twitter Blue, the company’s subscription service, and allowed accounts that had been blocked under the previous administration, including that of former US President Donald Trump, to be reactivated.
In response to concerns about his management style and intense involvement in the social media company, Musk announced on Sunday that he would put all changes to Twitter policy to a public vote. This has some Tesla investors concerned that Musk may be preoccupied at a crucial time for the electric automaker.
Musk declared on Sunday that he would follow the poll’s findings, although he did not specify when he would resign if the findings called for it. According to the poll the billionaire started on Sunday night, almost 57.5% of votes were in favour of Musk stepping down as the CEO of Twitter, while 42.5% were opposed. There were over 17.5 million voters. There is now no succession, he had stated.
According to Musk’s claims and those of other analysts, Twitter’s business model requires radical action to be viable. It may be challenging to find someone with the zeal to steer Twitter’s ship without Musk at the helm, according to Sophie Lund-Yates, an analyst at Hargreaves Lansdown.
The survey findings brought to a close a hectic week that saw modifications to Twitter’s privacy policy and the suspension and reactivation of journalist accounts, both of which garnered criticism from news organisations, advocacy groups, and government officials across Europe. Then, in a since-deleted message, Twitter prohibited accounts that supported competing social media sites like Facebook, raising concerns from even ardent Musk fans like Twitter founder Jack Dorsey.
