Dubai, UAE: Mr. Elon Musk, the CEO of Twitter, stated that a change in leadership could happen by the end of 2023, calling the past year a “rollercoaster” since he acquired full ownership of the social media.

“I’m guessing probably towards the end of this year should be good timing to find someone else to run the company,” the CEO told the World Government Summit conference in Dubai via video.

“I need to stabilise the organisation and make sure it’s in a healthy place and that the product roadmap is clearly laid out… I think it should be in a stable position around the end of this year,” Mr. Musk added.

Withdrawing from day-to-day operations would allow Musk to avoid accusations that he is neglecting his other businesses, particularly the automobile manufacturer Tesla, whose stock price has fallen sharply since he assumed control of Twitter. Mr. Musk paid $44 billion for his preferred social media network.

Few hints have been provided by Mr. Musk as to the kind of leader he seeks. The Tesla owner only stated that he would limit his personal responsibilities to software and server engineering until “someone foolish enough” had taken his place on 21st December 2023, when he originally declared his intention to stand down as CEO.

Since Mr. Musk acquired full control of Twitter on 27th October 2022, the social media site has been in disarray due to large layoffs, the reintroduction of banned accounts, and the banning of journalists who have been critical of the billionaire South African-born Mr. Musk.

Racist or offensive tweets also increased after Musk’s takeover, which attracted regulatory attention and drove away major advertisers, Twitter’s main source of income. As the social network started allowing paying users to write tweets up to 4,000 characters long last week, many Twitter users complained about issues utilising the platform.

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