Elon Musk states that he expects to spend less time at Twitter and eventually select a new leader to oversee the social media firm and that he hopes to finish an organizational restructuring this week.
Musk made the comments while appearing in a Delaware court to defend himself against allegations that his $56 billion compensation package at Tesla Inc. was based on easy-to-attain performance benchmarks and it was approved by a compliant board of directors.
“There’s an initial burst of activity needed post-acquisition to reorganize the company. But then I expect to reduce my time at Twitter,” said Elon Musk.
Musk later stated in a tweet that he will continue to oversee Twitter until it is strong, which will ‘take some time’.
Musk’s post comes after former Twitter CEO Jack Dorsey stated that he will not accept the position of CEO. When asked if he would take the post of CEO on Twitter, he replied, ‘never’.