Twitter chief executive Elon Musk made a statement on February 14 that it would be good to find a new CEO for Twitter by the end of the year.

“I think I need to stabilize the organisation and just make sure it’s in a financially healthy place and that the product roadmap is clearly laid out,” said Musk in a virtual interview at the World Government Summit in Dubai.

On who will be hired as the new CEO, Musk said, “I don’t know, I’m guessing probably towards the end of this year would be good timing to find someone else to run the company, because I think it should be in a stable position around, you know, at the end of this year,” he said.

Good Year For Twitter?

In December last year, Musk had said that he would resign as its chief executive “as soon as I find someone foolish enough to take the job!”, but he would “just run the software and servers teams”.

Just earlier this month Twitter faced a $1.9 million dollar lawsuit over unpaid bills by an advisory firm. Musk acquired Twitter in October for $44 billion. Advertising spending for Twitter dropped by 71% in December as advertisers stopped spending on the platform after Musk took over.

According to a Forbes report Musk described Twitter’s current state as “somewhat a startup in reverse” adding that a lot of work was needed to get the company stable. He said that his end goal was to ensure that Twitter allows speech with the “least amount of censorship allowed by law… [which] varies a lot by jurisdiction.”

Musk also said that social media companies should “adhere to the laws of countries” and not “try to put a thumb on the scale beyond the laws of countries.”

Musk is currently the world’s second richest person. He faced a slump last year but his wealth has surged once again as Tesla’s stocks are up by more than 93% in early 2023.

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