Elon Musk seeks new CEO after losing Twitter leadership poll despite keeping silent on outcome

Elon Musk is looking for a new chief executive officer for Twitter, according to a person familiar with the search, after the billionaire lost a straw poll he posted on the social media site asking if he would fulfill his role as head of the company should give up.

More than 10 million votes, or 57.5 percent, favored Musk’s resignation, Monday morning’s results showed. Musk committed to sticking to the results when he launched the poll, but almost a day later he had tweeted more than a dozen times without directly addressing the result. The search for a new CEO could be lengthy and not bring quick results, said the person, who asked not to be identified in a private matter.

Several Twitter accounts posited that the poll may have been rigged by bots, prompting Musk to reply to one with a single word: “interesting.” In one of his first tweets after the poll, Musk said Twitter would limit voting on major policy decisions to paying Twitter Blue subscribers. The service, which costs $8 a month, had attracted about 140,000 subscribers as of Nov. 15, the New York Times reported.

Musk has run Twitter almost single-handedly since buying it for $44 billion in October. He said early on that he didn’t plan on staying on as CEO permanently, and he’s surrounded himself with a few trusted people, some of whom have indicated they’d be willing to take on what Musk calls a thankless task. “No one wants the job that can actually keep Twitter alive. There is no successor,” Musk tweeted earlier this week.

Among those who have remained in Musk’s inner circle are Jason Calacanis, an investor and podcaster, and former PayPal exec David Sacks. The two were part of Musk’s war room in the days after the deal went through, and people familiar with the situation said they received internal accounts and helped make decisions about who would keep their jobs. Both have publicly made suggestions about Twitter’s business strategy.

Calacanis pushed his ideas on how to monetize Twitter and on Tuesday advocated ideas including a “poll analysis” link, which would break down information on Twitter poll results by attributes such as country and number of Twitter followers. Such insights are “worth getting paid for,” he tweeted. On Monday, he spoke about Twitter’s new branding efforts.

Sacks also retweeted a notification Monday about Twitter Business, a new program that allows companies to identify their brands and key employees on Twitter. Next to his name, Sacks added the logo of Craft Ventures, the venture firm he runs. In a reference to Musk’s poll on whether to remain Twitter’s CEO, Sacks suggested that other CEOs conduct the same type of poll.

CNBC’s David Faber previously reported on Musk’s search for a new CEO. Faber reported that Musk’s search was ongoing and began before the Twitter poll surfaced.

Musk’s dramatic stunt of asking the public about his leadership skills came shortly after his visit to the World Cup final in Qatar and sparked a wave of trending topics like “VOTE YES” and “CEO of Twitter.”

Musk has warned that Twitter is on the verge of bankruptcy and has set up a “hardcore” work environment for the remaining workers after drastic downsizing. In his less than two months at the helm, he has spooked advertisers, angered Twitter’s most zealous creators and made the service the main focus of attention from a mirror of the day’s news.

After losing the first poll, Musk, who is also Tesla’s CEO, retweeted promotional material for the automaker and for Twitter’s Blue for Business service. Also on an article about the criticism of the competitor Toyota Motor Corp. on electric vehicles, he responded with a simple “Wow”.

Tesla stock, by far Musk’s most valuable holding, has plummeted since the Twitter acquisition, and critics have argued he spends too much time with the social media company. Shares fell 7 percent Tuesday afternoon in New York.

https://www.independent.ie/business/technology/news/elon-musk-is-seeking-new-ceo-after-losing-twitter-leadership-poll-despite-keeping-silent-on-result-42234665.html Elon Musk seeks new CEO after losing Twitter leadership poll despite keeping silent on outcome

Fry Electronics Team

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