Elon Musk said, he expects to reduce his time at Twitter and try to find a new leader to run his social media company. He also added, that he hoped to complete an organisational restructuring this week.
Musk made the remarks while testifying 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.
However, Musk added in a tweet that he will continue to run Twitter until it is in a strong place, though it will "take some time."
Musk`s tweeted after former CEO Jack Dorsey said that he will not accept the role of Twitter CEO. In a reply to a Twitter user when asked if he would take the position of CEO, he said "nope."
Tesla investors have been increasingly concerned about the time that Musk is devoting to turning around Twitter.
