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Why has Elon Musk stepped down as Twitter CEO?

Wall Street called for the controversial billionaire to step down as the CEO of the internet company in December 2022. Five months later he has found someone to take over.

Update:
Wall Street called for the controversial billionaire to step down as the CEO of the internet company in December 2022. Five months later he has found someone to take over.
JONATHAN ERNSTREUTERS

Elon Musk said at the end of 2022 that he would stand aside from his role as chief executive officer of Twitter once a successor has been appointed.

“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 & servers teams,” Musk wrote on Twitter.

What has made Elon Musk resign from the Twitter?

After asking his 122 million followers if he should step down, Mr. Musk received a total of 57.5% positive responses or “yes” votes. On Monday, more than 17.5 million people participated in his poll, and 42.5% of them expressed opposition to Mr. Musk stepping down.

Despite the response from his followers on Twitter, not surpisingly, Musk did not step down as he had previously announced. He did say the he would leave when he found someone to take over and that has finally happened today, over five months later. The new CEO of Twitter will be Linda Yaccarino, an experience Media Ad executive.

One more controversy for the Tesla owner

The release of his survey coincides with the most recent controversy, which revolved around a policy that prevented users from linking to some competing social networking websites. These websites included Facebook, Instagram, and Mastodon.

After that, Twitter rolled back the policy within a few hours. “Moving ahead, there will be a vote to make significant modifications to the policies. My apologies. It won’t happen again,” he went on to say.

Musk loves to be the center of attention and has been in the middle of several controversies recently including his decision to remove the blue check to indicate verified accounts. He has gone back and forth on who should have it and how much it will cost. His interview on BBC gave details on how he plans to handle misinformation (fake news), job cuts and other plans for Twitter in a tense interview.