The platform’s co-founder Jack Dorsey has ruled out returning as chief executive
© Global Look Press / Muhammad Ata
Twitter owner Elon Musk has announced that he plans to step back from the social media company over time and is looking for a new boss to run the platform, Reuters reported on Wednesday.
The world’s richest man reportedly made the comments during a trial over his compensation at Tesla. During the five-day hearing that got underway in Delaware on Monday, Musk is defending against claims that his $56 billion pay package at the electric carmaker was based on easy-to-achieve performance targets and was approved by a compliant board of directors.
“There’s an initial burst of activity needed post-acquisition to reorganize the company,” Musk said in his testimony. “But then I expect to reduce my time at Twitter.”