1 of 3 | Elon Musk said Wednesday that by the end of 2023 would be good time to find someone to replace him as Twitter CEO. During a video link to the World Government Summit in Dubai, Musk said Twitter should be stable enough by the end of 2023 so that would be a good time to find a CEO replacement. File Photo courtesy of Tesla
Feb. 15 (UPI) -- Elon Musk said Wednesday he wants a successor to replace him as Twitter CEO by the end of this year.
Musk made the comments, following up on plans to step aside from the helm of the social media company announced earlier this year, during a remote video link to the World Government Summit in Dubai.
"I need to stabilize the organization and just make sure it's in a financially healthy place and the product road map is clearly laid out," Musk said in the video link. "I'm guessing toward the end of this year should be a good timing to find someone else to run the company. I think it should be in stable condition around the end of this year."
After buying Twitter, Musk tweeted himself the title "Chief Twit" in October and he said in December that he will resign as Twitter CEO "as soon as I can find someone foolish enough to take the Job!"
Musk tweeted a poll in December asking whether he should resign as CEO. A majority of the 17.5 million who responded said yes.
After Musk bought Twitter for $44 billion in October, the company has seen a big decline in advertising revenue with several job cuts. The stock price of Musk's Tesla company also plummeted from a high of $400 a share to just over $200 now.
Musk sold billions of dollars worth of Tesla stock to help finance his acquisition of Twitter.
In addition to slashing half the jobs at Twitter, Musk reinstated some banned accounts, including former President Donald Trump's, even as he suspended other Twitter accounts, including those of several U.S. journalists.