Elon Musk will soon start looking for a person who could lead Twitter – to reduce his own time input at the social media company.
Today the new Twitter CEO said his plan is to complete the restructuring of his newly purchased company, and then to delegate the work of running the company to a dedicated director.
These comments have been made by Musk while testing in a Delaware court where he has to defend himself against claims by Tesla’s investors saying that he received his $56 billion pay package at Tesla “too easily” because his performance targets were allegedly set at a level that was not difficult to achieve.
Investors are also expressing concern that the CEO is possibly spending too much time watching over Twitter, leaving Tesla aside at a time when it possibly needs more attention than ever. Amidst this turmoil, Tesla’s shares fell 3% today.
Musk defended his position saying he needs to devote more time to his new acquisition to put Twitter “on track”. He also mentioned that some engineers from Tesla were participating in the evaluation of Twitter’s engineering teams.
There’s an initial burst of activity needed post-acquisition to reorganize the company. But then I expect to reduce my time at Twitter,” Tesla’s CEO said.