Unexpected Reason Behind Elon Musk's Decision to Step Down as Twitter CEO

Delhi : Elon Musk announced on Tuesday that he will step down as Twitter's CEO once a successor has been found.

"I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams." Musk sent a message on Twitter.

This is the first time Musk has addressed stepping down as CEO of the social media network, after Twitter users overwhelmingly voted for him to resign in a poll posted on Sunday evening by the entrepreneur.

For several weeks, there had been increasing calls on Wall Street for Musk to resign. More recently, even Tesla Inc. bulls have questioned whether Musk's attention to social media platforms is detracting from his role as a key figure in product design and engineering in the electric vehicle industry.

Musk admitted he had too much on his plate and declared he would look for a new CEO of Twitter. But he claimed on Sunday that there was no one in place to take his place and that "no one wants the position who can truly keep Twitter alive."