Elon Musk Hopes To Stabilize Twitter, Appoint New CEO By End Of 2023

Twitter CEO Elon Musk says he might be ready to step down as head of the social media network by the end of 2023, when he imagines the company will be financially stable enough for him to appoint a new chief executive.

"I think I need to stabilize the organization and just make sure it's in a financially healthy place and that the product roadmap is clearly laid out," Musk said at the World Government Summit in Dubai.

"I'm guessing probably towards the end of this year should be good timing to find someone else to run the company because I think it should be in a stable position around the end of this year."

Musk has not offered any insight into potential candidates, but did post a picture of his dog with the caption: "The new CEO of Twitter is amazing," shortly after his comments.

Musk took over as CEO of Twitter in October as part of a $44 billion acquisition of the social media platform.

Since taking over the company, Musk restored former President Donald Trump's account after he lost access to the website following a pro-Trump mob attacked the U.S. Capitol on Jan. 6, 2021. He also reinstated the accounts of several people who spread misinformation and violated guidelines, including Rep. Marjorie Taylor Greene and rapper Kanye West.

Musk described his takeover of Twitter, which is based in San Francisco, as a cultural correction after purchasing the company for $44 billion last year.

"I think that the general idea is just to reflect the values of the people as opposed to imposing the values of essentially San Francisco and Berkeley, which are so somewhat of a niche ideology as compared to the rest of the world," he said. "And, you know, Twitter was, I think, doing a little too much to impose a niche."

In December, Musk tweeted a poll asking people whether he should step down as the head of Twitter. The majority of the 17.5 million votes said yes.

"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," Musk tweeted after the poll.