Elon Musk said, on Wednesday, that he expects to reduce his time following Twitter management and searching for a new leader to run the social media company, adding that he hopes to complete the organizational restructuring this week, according to a Reuters report.
The comments came as Musk was testifying in a Delaware court, defending allegations that the $56 billion package paid to him to run Tesla was based on easy-to-achieve goals and was approved by a board of directors compatible with him and not by investors. .
Tesla investors were increasingly concerned about Musk's time to change Twitter's management, but he later said in a tweet that he would continue to run Twitter until it was in a strong place, though "it will take time."
Musk's tweet came after former Twitter CEO Jack Dorsey said he would not accept the CEO role of Twitter, in response to a Twitter user when asked if he would take over as CEO.
nope
— jack (@jack) November 17, 2022
"There is initial post-acquisition activity needed to reorganize the company," Musk said in his testimony, "but after that I expect to reduce my time on Twitter."
He also acknowledged that some Tesla engineers were helping to evaluate engineering teams at Twitter, but said it was "on a voluntary basis and after working hours".
The billionaire's first two weeks as the owner of Twitter were marked by rapid change and chaos, according to Reuters.
He quickly fired the former Twitter CEO and other senior leaders, and then laid off half of his staff earlier this month.
Musk sent an email to Twitter employees early Wednesday telling them they needed to decide by Thursday whether they wanted to stay at the company to work "long hours at high intensity" or receive severance pay for three months of pay.