Musk Seeks New Twitter CEO Following Defeat in Poll

According to a source close to the situation, Elon Musk is searching for a new CEO for Twitter Inc. This comes after the billionaire conducted a poll on the social media platform asking if he should step down from his position as head of the company, which he lost.

The results of a survey released on Monday morning showed that more than 10 million votes, or 57.5%, were in favor of Elon Musk stepping down as CEO. Musk had promised to abide by the results when the survey was launched, but he had yet to directly address the outcome after tweeting more than 10 times. According to a source who requested to remain anonymous, the search for a new CEO could take some time and not yield results quickly.

In response to a tweet that suggested the poll may have been manipulated by bots, Musk simply replied with the word "interesting." After the poll, he announced a new policy move on Twitter that voting on major policy decisions would be restricted to paying Twitter Blue subscribers. When Unfiltered Boss, a Blue member, suggested that only subscribers should have a voice in future policy, Musk agreed and said, "Twitter will make that change." According to the New York Times, Twitter Blue had around 140,000 subscribers as of November 15th.

Previously, the billionaire promised to put any future policy decisions to a vote and gave Twitter users the option to decide on leadership, inquiring if he should resign from the top spot at the company he purchased in October for $44 billion.

Learn more about the possible contenders for the position of Twitter CEO.

Shortly after attending the World Cup final match in Qatar, Elon Musk made a dramatic offer that caused a flurry of trending topics such as "VOTE YES" and "CEO of Twitter". He did not suggest an alternative leader and even went as far as to say that no one who was capable of doing the job would want it.

David Faber of CNBC has been covering Elon Musk's search for a new CEO. According to Faber, the search has been in progress for some time, preceding the Twitter poll.

Elon Musk has expressed his concern that Twitter may be facing bankruptcy and has implemented a rigorous work environment for the remaining employees after a significant reduction in personnel. In the short time he has been in charge, he has caused unease among advertisers, alienated the most devoted users of the platform, and shifted the focus of the service from reporting the news to being the news.

After the initial poll results were not in his favor, Musk, the CEO of Tesla Inc., shared promotional material for the car company and Twitter's Blue for Business service on his Twitter account. He also reacted to an article about Toyota Motor Corp.'s criticism of electric vehicles with a single word: "Wow."

Tesla's stock, which is the most valuable asset of Musk, has seen a sharp decline since the Twitter purchase. Many have voiced their opinion that he is devoting too much time to the social media platform. At 12:37 p.m. in New York, the shares had dropped by 5.6%.