I don’t want to be CEO of any company: Elon Musk
Elon Musk, the founder of the famous American company Tesla and SpaceX, says that he does not want to be the chief executive officer of any company.
Elon Musk has been accused by Richard J Tornetta, a shareholder of his company Tesla, of receiving excessive compensation as CEO of the company.
Elon Musk has said during the hearing of this case in the US court that “in fact, I don’t want to be the CEO of any company”.
He also said that he has become the chief of Twitter on an interim basis and that he will soon find a new leader to run the social media company.
He hoped that the management reorganization at Twitter would be completed this week.
“A CEO is often seen as someone who is only focused on achieving business goals, but my role in the company is that of an engineer who develops technology and ensures It allows us to develop more advanced technology and also to have a team of incredible engineers who can achieve these goals.
“It’s my experience that good engineers will only work for a great engineer and that’s my first duty, not being the CEO of the company,” Nahu added.
According to a report, a former Tesla board member, James Murdoch, says that Elon Musk is considering stepping down as CEO of the Tesla company.
The report also suggests that Elon Musk is thinking this because investors have been intimidated by his amazing multitasking ability.
Elon Musk has clarified his position by saying that “he spends most of his time wherever there is a crisis”.
He tweeted this week that he will be at Twitter’s San Francisco headquarters 24 hours a day until he fixes the company’s problems.
Recall that Elon Musk recently took control of Twitter after paying $44 billion, installed himself as the chief executive officer and fired half of the company’s staff, and launched several new project ideas.
Elon Musk Accused of Overcompensating as ‘Chief Executive Officer
Elon Musk was sued by Tesla shareholder Richard J. Tornetta in 2018, alleging that the company’s CEO’s compensation was excessive and that the company’s board overpaid him. Authorizing payment is a violation of company rules.
Richard J. Tornetta also alleges in the lawsuit that Elon Musk told the board of directors the terms of the pay package and then put them to a vote of shareholders who were misled about the difficulty of reaching certain targets.
It should be noted that right now Elon Musk is simultaneously serving as the chief executive of the world’s most valuable car maker Tesla, the second largest defense contractor SpaceX and the social media platforms Twitter.