Elon Musk announced on December 20 that he would no longer be the CEO of Twitter, the company which he had acquired not long ago, in April 2022.
This decision came after the Twitter owner himself generated a poll on the platform asking users to vote whether or not he should step down as head of Twitter. The poll backfired because the majority of Twitter users voted ‘yes’ on the poll, indicating that he should step down. In the poll, 57.5% users had voted yes.
He made his announcement via a tweet, which read, "I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams." He reasoned his decision by saying that he has too much on his plate; there have been concerns that he has not been able to fully devote his time and attention to Tesla Inc, where he is the head of product design and engineering, affecting the drive of the electric vehicle business. He has thus claimed that he will find someone to replace him, even though "no one wants the job who can actually keep Twitter alive."
Musk had a short-term yet quite an infamous rule over Twitter. His association with Twitter was stained from the very beginning when he fired a large number of employees, including the existing CEO, Parag Agrawal, and CFO, Ned Segal, mentioning cost-cutting measures as a reason. In total, he got rid of gotten rid of 70% of the 7,500 employees at Twitter. He also disbanded the Truth and Safety Council of the platform, which was used to prevent harassment. Free lunches were also put to an end, which Musk said cost more than $400 a meal. Former Twitter employees have accused the company of depriving them of severance packages and laying off female workers.
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