Twitter Users Vote In Favour Of Elon Musk Stepping Down As Its CEO.
Twitter users voted in a poll for Elon Musk to step down as head of the social media platform.
Elon Musk, the CEO of Tesla and Space Exploration Technologies, who recently took over as the head of Twitter has been met with criticism for his management style, including dismissing top executives and cutting the company’s workforce by about half.
Approximately 58% of the 17.5 million votes were in favor of Musk stepping back from the leadership role, despite there being no clear successor.
Musk’s tenure at Twitter has been chaotic, with numerous top executives being dismissed, roughly half of the company’s employees being laid off, and advertisers becoming concerned.
Musk has also been criticized for dedicating a significant amount of his time to Twitter while neglecting his other businesses, including Tesla, which has seen its stock drop by about a third since Musk acquired Twitter in October.
It is not clear who will replace Musk at Twitter, as most top-ranking executives have been fired or resigned in recent months.
There is also concern about the company’s financial stability, as it has almost $13 billion in debt held by seven Wall Street banks that have been unable to sell it to investors.
After taking the top role, Musk indicated that he would only be in charge of Twitter for a limited time to complete the organizational overhaul he thought it needed to prosper, and complained of having “too much work” and sleeping at Twitter’s San Francisco office while enforcing his radical changes.
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