As soon as Twitter was acquired for $44 billion last year, Elon Musk fired Parag Agarwal and became the new CEO. But, Musk plans to step down as CEO by the end of this year, he confirmed during a recent interview.
Now the question is, who will be the next Twitter chief if Musk steps down as CEO of Twitter? Looks like the world’s richest man already has a replacement in mind and he’s an insider.
According to reports, Musk may very soon announce The Boring Company CEO Steve Davis as the next CEO of Twitter. For those unaware, Davis has been a longtime associate of Musk and knows how the billionaire works.
In one of his tweets, Musk also said that he will appoint a new Twitter CEO, but the power will remain in his hands. It is highly likely that Musk will bring in someone he knows and has worked closely with as the new Twitter CEO.
According to a recent report by Platformer, Davis worked for Twitter last year as a part of Musk’s transition team. The billionaire reportedly tasked Davis with cutting costs by US$500 million, but he ended up cutting about US$1 billion.
“Her success in reducing costs by any means has led to growing speculation internally that Musk will choose her as Twitter’s next CEO,” the report said.
Davis has been part of Musk’s core Twitter team since his acquisition and was responsible for the recent changes as well as the layoffs.
The company has recently laid off 200 employees, which is about 10 percent of its workforce and Davis is said to have played a key role in this. While Musk didn’t provide further details about the latest layoffs, reports suggest that product managers, engineers, and data science people have been most impacted.
In fact, Musk also fired Esther Crawford, who was leading projects like the Blue Verification subscription and the upcoming payments platform. Additionally, Chris Ready, who was Twitter’s acting head of sales, was also asked to leave during the latest round of layoffs.
Musk laid off more than 50 percent of the workforce when he acquired Twitter last year. The drastic layoffs were followed by several more rounds of job cuts, and Musk later promised not to cut more jobs at the firm.
It seems the current Twitter CEO is not living up to his words and is laying off employees at regular intervals. In India too, Musk has laid off hundreds of employees in the last few months. In fact, some reports suggest that Musk has closed two of the three offices in India to cut costs.
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Information Source: IndiaToday