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Elon Musk is hunting for a new Twitter CEO to replace him, report says

elon musk
Elon Musk. Muhammed Selim Korkutata/Getty Images

  • Elon Musk is on the hunt for someone to replace him as CEO of Twitter, sources told CNBC's David Faber.
  • Musk recently tweeted a poll on if he should step down as Twitter's CEO, saying he'd abide by its results.
  • Roughly 57.5% of voters in the poll said Musk should resign.
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Elon Musk is reportedly hunting for someone to replace him as the CEO of Twitter.

CNBC first reported the development Tuesday, citing unnamed sources saying the search has been ongoing since before Musk's recent Twitter poll on the subject.

On Sunday, Musk had tweeted a poll asking users if he should step down as Twitter's CEO and saying he'd abide by the results. After voting closed, 57.5% of voters said he should resign. Shortly after tweeting the poll, Musk said "there is no successor" to him currently, writing, "No one wants the job who can actually keep Twitter alive."

Musk and a Twitter spokesperson did not respond to a request for comment from Insider ahead of publication.

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The billionaire responded to CNBC's report on Twitter on Tuesday with two crying-laughing emojis.

After the poll closed, the billionaire indicated that future policy decisions for the app will only poll paying Twitter Blue subscribers.

Last month, Musk — who initially gave himself the title of "Chief Twit" — said he plans to step back from the social media company over time and eventually find someone else to run the company.

"There's an initial burst of activity needed post acquisition to reorganize the company," Musk told lawyers while speaking during a trial over his Tesla pay package. "But then I would reduce my time [commitment] to Twitter."

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On Sunday, Sen. Elizabeth Warren issued a warning to Tesla's board of directors that Musk's role at Twitter could create "unavoidable conflicts of interest" when it comes to overseeing both companies. Some Tesla shareholders have expressed concern that Twitter has become too much of a distraction for the carmaker's CEO. And Tesla's third largest shareholder, Leo KoGuan, said on Twitter last week that "Tesla needs and deserves to have working full-time C.E.O."

The electric-car maker's stock has plummeted over 50% this year. Though, shares of the EV company appeared to respond positively to the possibility of Musk stepping down as CEO of Twitter on Monday. The billionaire has offloaded nearly $40 billion worth of Tesla stock in the past 14 months.

"Time to end this nightmare as CEO of Twitter," Wedbush tech analyst Dan Ives said in a note on Monday. "This has been a black eye moment for Musk and been a major overhang on Tesla's stock which continues to suffer in a brutal way since the Twitter soap opera began with brand deterioration related to Musk a real issue. "

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