Elon Musk is actively searching for a new Twitter CEO, sources say

Elon Musk’s Twitter page seen on mobile with his poll about stepping down as head of Twitter

Yui Mok | On pictures | Getty Images

Twitter owner and CEO Elon Musk is searching for a new CEO at the company, sources told CNBC̵[ads1]7;s David Faber.

Musk, who bought the company for $44 billion in October, has previously said his position as CEO would be temporary. In court in November, Musk said, “I expect to reduce my time on Twitter and find someone else to run Twitter over time.” On Sunday, however, he wrote in a tweet that “there is no successor”.

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Elon Musk is actively searching for a new Twitter CEO, sources say


“The question is not finding a CEO, the question is finding a CEO who can keep Twitter alive,” he wrote.

The billionaire posted an informal poll On Sunday, Twitter users asked if he should step down as head of the company, and a majority of the 17 million respondents voted for Musk to leave the position. He said on Sunday that he would follow the results of the vote.

Twitter polls are straw polls, meaning they cannot be compared to professional opinion polls. Malicious bots or unauthentic accounts may also be able to record a response to a Twitter poll.

Sources told Faber that Musk’s search for a new CEO has been ongoing and started before the Twitter poll was created.

Musk’s Twitter takeover has been rocky, as his leadership has resulted in massive staff cuts, an increase in racist hate speech, advertisers fleeing or reducing their spending on the platform, and the reintroduction of previously banned accounts.

“Chief Twit”, as Musk has previously called himself, claims that Twitter usage has reached a record high since he took over, and that impressions of hate speech have fallen.

The billionaire’s management of Twitter has raised concerns about his other ventures.

Musk has sold billions of dollars worth of Tesla stock this year to finance the Twitter takeover. He has also brought in talent from Tesla, SpaceX and the Boring Co., including executives, engineers and lawyers, to help him on Twitter. Musk is CEO of Tesla and SpaceX and founder of Boring Co.

On Monday, Sen. Elizabeth Warren, D-Mass., wrote to Tesla’s chairman, Robyn Denholm, expressing concern that Musk and the board may have breached legal obligations to Tesla shareholders.

The lawmaker, who has previously sparred with Musk on the idea of ​​a wealth tax, asked the board to answer specific questions about the alleged misuse of Tesla resources and conflicts of interest stemming from Musk’s purchase of Twitter.

In a tweet Monday night, Musk said “The United States has definitely been hurt” by having Warren as a senator.

Earlier this month, NASA Administrator Bill Nelson asked SpaceX President and COO Gwynne Shotwell if Musk’s “distraction” on Twitter could affect SpaceX’s work with the space agency, NBC News reported. Nelson said she assured him it would not.

Musk did not immediately respond to a request for comment.

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