New York: Elon Musk said he expected to reduce his time at Twitter and eventually find a new leader to run the social media company, adding that he hoped to complete an organizational restructuring this week.
Musk made the remarks while testifying in a Delaware court to defend against claims that his $56 billion pay package at Tesla Inc was based on easy to achieve performance targets and was approved by a compliant board of directors.
Tesla investors have been increasingly concerned about the time that Musk is devoting to turning around Twitter.
“There’s an initial burst of activity needed post-acquisition to reorganise the company,” Musk was quoted as saying by news agency Reuters. “But then I expect to reduce my time at Twitter,” he added. Musk also admitted that some Tesla engineers were assisting in evaluating Twitter’s engineering teams, but he said it was on a “voluntary basis” and “after hours”.
Elon Musk made these remarks while testifying in a Delaware court to defend against claims that his $56 billion pay package at Tesla Inc was based on easy-to-achieve performance targets and was approved by a compliant board of directors.
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