Dubai: Elon Musk has revealed that he expects to find a CEO for Twitter "probably towards the end of this year."
Musk stated in a video conference at the World Government Summit in Dubai that the most important thing for him is that the platform works, according to New York Post. New York Post further reports that when Musk was asked about when he'd name a CEO and he said, "I think I need to stabilize the organisation and make sure it's in a financially healthy place...I'm guessing probably toward the end of this year would be good timing to find someone else to run the company."
"Twitter is still somewhat a startup in reverse," he said.
"There's work required here to get Twitter to sort of a stable position and to really build the engine of software engineering."
Earlier this month, Musk said that the past three months have been "extremely tough" as he "had to save Twitter from bankruptcy" while also fulfilling his duties at Tesla and SpaceX.
Taking to his official Twitter handle, Musk said that the microblogging site continues to have challenges.
Elon Musk tweeted, "Last 3 months were extremely tough, as had to save Twitter from bankruptcy while fulfilling essential Tesla & SpaceX duties. Wouldn't wish that pain on anyone. Twitter still has challenges but is now trending to break even if we keep at it. Public support is much appreciated!". He tweeted in response to The Wall Street Journal's news article.
Elon Musk has reduced about half of Twitter's staff, introduced a revamped microblogging site Blue subscription service and even auctioned off memorabilia from the company's San Francisco headquarters, Fox Business reported. He defended the Twitter layoffs in November, stressing that the company was losing USD 4 million a day.
Recently, Twitter announced that it will start charging a fee to access its API, which developers use to create third-party services, as per the news report. Earlier on January 13, Musk revealed some of the changes that were set to be introduced in the microblogging platform from next week onwards. He wrote, "Bookmark button moving to tweet details page, fixing image length crop & other minor bug fixes next week."