John Paul M. Joaquin Tech 02.15.2023 06:Feb AM EST

Elon Musk To Make Twitter ‘Stable’ Before Choosing a Successor in Late 2023

Elon Musk may be stepping down from his role as Twitter's CEO.

The Big Twit himself recently announced he plans to find someone to succeed him as Twitter's CEO, provided the company is stable by then.

Musk previously asked people to vote on whether he should remain as Twitter's CEO in late December 2022, with 57.5% saying he should, while 42.5% said he shouldn't, much to his surprise.

Elon Musk's CEO Departure Plans

Musk stated via a remote video link at the World Government Summit in Dubai on Feb. 15 that He plans to find someone to take over his job as Twitter CEO towards the end of 2023, per Bloomberg.

He reasoned that he might need the rest of the year to put things right at Twitter before handing it to his successor as CEO. He also revealed that he thought that the company was still "somewhat of a start-up in reverse," and that there is still work to be done to get Twitter in a stable position to really build the engine of software engineering.

Musk's statement may prolong investors' concerns about the billionaire being distracted from leading Tesla.

However, he believes that late 2023 is an ideal time to find a worthy successor as he thinks that Twitter would be "in a stable condition" around that time.

"I need to stabilize the organization and just make sure it is in a financially healthy place and the product road map is clearly laid out," Musk said.

Musk didn't share if he has someone already in mind to replace him as Twitter's CEO, though he jokingly tweeted pictures featuring his dog in the position. Aside from that, sources familiar with Twitter's inner workings revealed on Dec. 20 that Musk is allegedly already looking for a successor himself.

Will Musk Actually Step Down As CEO?

The idea of Musk stepping down as twitter's CEO predates his poll asking Twitter users to vote if he should remain in the position or not. The richest man in the world mentioned he doesn't expect to be Twitter's permanent CEO at a trial on Nov. 16, 2022, and that he would eventually step down from the role and hand over the reins to someone else, per The Verge.

He also mentioned in court that he does not want to be the CEO of any company, explaining that he doesn't see his role as a traditional chief executive.

After finding the results of the poll he posted regarding his stay as Twitter's CEO, Musk tweeted he would resign from the position as soon as he finds someone "foolish" enough to take the job.

His motivation to do so may be coming from the fact that many of Tesla's investors are concerned that Musk may be distracted by his role as Twitter's CEO to pay attention to Tesla at a time when the automaker is facing demand challenges and increasing competition.

However, Musk has a proven track record of missing his own deadlines and promised delivery times, including new Tesla products like the Cybertruck or software capabilities such as fully autonomous driving.