Elon Musk may resign as CEO of Twitter, users will decide

Billionaire Elon Musk has started a poll for the users of microblogging site Twitter asking them to decide whether he should resign as the Chief Executive Officer of the company or not. Musk has also promised to accept the results of this poll. This poll on Twitter is open till 4:30 pm (Indian time) on Monday and after that the result will be known.

Musk is facing difficulties after taking over Twitter. He had laid off a large number of Twitter workers and made major changes regarding the premium subscription of Twitter. Apart from this, he also removed the ban from the Twitter accounts of some controversial personalities including former US President Donald Trump. Earlier, Musk had said that he does not want to remain the CEO of Twitter for a long time. He had indicated to bring another person for this position. Apart from Twitter, he is also the CEO of electric car maker Tesla and SpaceX.

Last week, Tesla’s third largest shareholder Leo Koguan demanded the removal of Musk as the company’s Chief Executive Officer. Koguan holds about 22.7 million shares in Tesla, which are worth about $3.6 billion. Musk has sold a large number of Tesla shares last week. Musk is being accused of ignoring Tesla. Earlier Koguan was considered a supporter of Musk. However, he now wants to appoint a new CEO in place of Musk. He tweeted that Musk has left Tesla alone and the company has no working CEO. Musk has been selling a large number of Tesla shares since purchasing Twitter for approximately $44 billion.

Due to this there is resentment among the investors of the company. The company’s shareholders are accusing him of paying too much attention to Twitter. Tesla’s value has declined by more than half since Musk made the bid for Twitter in April. Musk has sold approximately $23 billion worth of company shares since April. This may make it easier for them to raise funds for the deal to buy Twitter.