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Elon Musk says he will step down as Twitter CEO once successor found

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Glenn Chapman, Agence France-Presse

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Twitter owner Elon Musk speaks at a discussion forum during the Offshore Northern Seas (ONS) Conference, in Stavanger, Norway on August 29, 2022. Carina Johansen, EPA-EFE/File" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2022/life/12/17/10964135-elon-musk-epa.jpg"/><figcaption>Twitter owner Elon Musk speaks at a discussion forum during the Offshore Northern Seas (ONS) Conference, in Stavanger, Norway on August 29, 2022. <em>Carina Johansen, EPA-EFE/File</em></figcaption></figure></div><p>SAN FRANCISCO — Elon Musk said Tuesday he would resign as chief executive of Twitter once he finds a replacement, in an apparent response to a poll he launched that suggested users wanted him to step down.</p><p>Musk has fully owned Twitter since Oct. 27 and has repeatedly courted controversy as CEO, sacking half of its staff, readmitting far-right figures to the platform, suspending journalists and trying to charge for previously free services.</p><p>&quot;I will resign as CEO as soon as I find someone foolish enough to take the job!&quot; Musk tweeted, saying he will then only run software and server teams at Twitter.</p><blockquote class="twitter-tweet"><p dir="ltr" lang="en">I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software &amp; servers teams.</p>— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1605372724800393216?ref_src=twsrc%5Etfw">December 21, 2022</a></blockquote><div><script async="" src="https://platform.twitter.com/widgets.js" charSet="utf-8" type="text/javascript"></script></div><p>In the poll results which were posted on Monday, 57 percent of voters, or 10 million votes, favored Musk stepping down just weeks after he took ownership of the company for $44 billion.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/12/21/22/musk-expresses-doubts-on-reliability-of-twitter-ceo-poll">Musk expresses doubts on reliability of Twitter CEO poll</a></li></ul><p>Musk has used the Twitter polls to take other decisions on the platform, including the reinstatement of the account of former US president Donald Trump and other suspended users. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/11/24/22/musk-sets-twitter-poll-for-general-amnesty-of-suspended-accounts">Musk sets Twitter poll for &#x27;general amnesty&#x27; of suspended accounts</a></li></ul><p>Earlier this week he used a laughing emoji to ridicule a report he was in search of someone to take over as boss of Twitter, and tweeted that &quot;no one wants the job who can actually keep Twitter alive.&quot;</p><p>Analysts have pointed out that the stock price of his electric car company Tesla has slumped by one-third since Musk&#x27;s Twitter takeover, and some suggest Tesla&#x27;s board was putting pressure on him to quit his Twitter role.</p><p>&quot;Finally a good step in the right direction to end this painful nightmare situation for Tesla investors,&quot; said Wedbush analyst Dan Ives on Tuesday.</p><p>In discussions with users after posting his latest poll, Musk had renewed his warnings that the platform could be heading for bankruptcy.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/12/19/22/lvmh-owner-unseats-elon-musk-as-worlds-richest-person">LVMH owner unseats Elon Musk as world&#x27;s richest person</a></li></ul><div><strong>Policy by poll? </strong></div><p>The unpredictable entrepreneur posted his poll on his resignation shortly after trying to extricate himself from yet another controversy.</p><p>On Sunday, Twitter users were told they would no longer be able to promote content from other social media sites.</p><p>But Musk seemed to reverse course a few hours later, writing that the policy would be limited to suspending accounts only when that account&#x27;s &quot;primary purpose is promotion of competitors.&quot;</p><p>The attempted ban prompted howls of disapproval and even bemused Twitter cofounder Jack Dorsey, who had backed Musk&#x27;s takeover.</p><p>Analyst Ives noted that &quot;advertisers have run for the hills and left Twitter squarely in the red ink potentially on track to lose roughly $4 billion per year.&quot;</p><p>Shortly after taking over the platform, Musk announced it would charge $8 per month to verify account holders&#x27; identities, but he had to suspend the &quot;Twitter Blue&quot; plan after an embarrassing rash of fake accounts. It has since been relaunched.</p><p>On Nov. 4, with Musk saying the company was losing $4 million a day, Twitter laid off half of its 7,500-strong staff.</p><p>Musk also reinstated Trump&#x27;s account -- though the former US president indicated he had no interest in the platform -- and said Twitter would no longer work to combat COVID-19 disinformation.</p><p>In recent days, he suspended the accounts of several journalists after complaining some had published details about the movements of his private jet, which he claimed could endanger his family.</p><p>Some of the suspended accounts have since been reactivated.</p><p>On Monday, the head of the European Parliament, speaker Roberta Metsola, sent a letter to Musk inviting him to testify before the legislature, her spokesman said.</p><p>The parliament has no power to compel Musk to turn up, and his response was not immediately known.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/12/20/22/timeline-twitter-mayhem-since-musk-takeover">Timeline: Twitter mayhem since Musk takeover</a></li></ul><div> </div><div><strong>RELATED VIDEO</strong></div><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/UAxX_RE49Yo?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

Elon Musk late Tuesday in the US said he will resign as chief executive of Twitter once he finds a replacement, in apparent respect of a poll he himself launched that revealed users wanted him to step down.

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Elon Musk says he will step down as Twitter CEO once successor found

Glenn Chapman,

Agence France-Presse

Published Dec 21, 2022 10:02 AM PHT

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Updated Dec 21, 2022 11:57 AM PHT

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