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Elon Musk says he will find a new leader for Twitter

Elon Musk said on Wednesday he expected to reduce his time at Twitter and eventually find a new leader to run the social media company, adding that he hoped to complete an organizational restructuring this week.

November 17, 2022
By Hyunjoo Jin and Tom Hals
17 November 2022

By Hyunjoo Jin and Tom Hals

Nov 16 (Reuters) – Elon Musk said on Wednesday he
expected to reduce his time at Twitter and eventually find a new
leader to run the social media company, adding that he hoped to
complete an organizational restructuring this week.

Musk made the remarks while testifying in a Delaware court
to defend against claims that his $56 billion pay package at
Tesla Inc was based on easy to achieve performance
targets and was approved by a compliant board of directors.

“There’s an initial burst of activity needed
post-acquisition to reorganize the company,” Musk said in his
testimony. “But then I expect to reduce my time at Twitter.”

The billionaire’ s first two weeks as Twitter’s owner
has been marked by rapid change and chaos. He quickly fired
Twitter’s previous chief executive and other senior leaders and
then laid off half of Twitter’s staff earlier this month.
(Reporting by Hyunjoo Jin and Tom Hals; Writing by Sheila Dang;
Editing by Chizu Nomiyama and Richard Chang)

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