The tech billionaire reportedly says he needs to stabilize the social network before handing over the reins.
Elon Musk reportedly thinks Twitter will be ready for a new chief executive "toward the end this year." The tech billionaire, who bought Twitter for $44 billion in October, said during an event Wednesday that he needs to stabilize the social network before finding a new CEO.
"I'm guessing toward the end of this year should be a good timing to find someone else to run the company," Musk said in a virtual interview during the World Government Summit, according to Bloomberg. "I think it should be in stable condition around the end of this year."
Must has previously said he plans to step aside but hasn't offered a specific timeline. In December, Musk said he would resign as CEO as soon as he found "someone foolish enough to take the job." The remarks came after Musk tweeted a poll asking people if he should step down as the head of Twitter. Roughly 58% of 17 million respondents voted yes.
Musk's time as CEO of Twitter has been tumultuous, with rapid change to the social network and seemingly erratic decision-making on controversial policies, including banning links to rival social networks and temporarily suspending journalists who cover him critically. Earlier this week, Twitter users' feeds were flooded with Musk's tweets after he reportedly pressed engineers to modify the social network's algorithm to prioritize his tweets.
It remains to be seen when Musk will actually step down as head of Twitter. As CEO of electric car company Tesla, Musk has a track record of missing deadlines on vehicle and technology advancements.
Twitter didn't immediately respond to a request for comment.