Users of Twitter have voted in favour of Elon Musk reigning as chief executive officer of the social media platform.
In an online poll, the billionaire said he would respect the results of the survey and act accordingly. About 58% of the 17.5 million votes cast were in support of Musk stepping down from his leadership role at Twitter.
If Musk does indeed resign as CEO, it will end a chaotic period at the social media company, which has involved the dismissal of top executives, the elimination of half the workforce, and an exodus of advertisers from the site.
Musk is also CEO of electric vehicle manufacturer Tesla (TSLA) and commercial space company SpaceX. He has dedicated much of his time since acquiring Twitter on October 27 to trying to turn the social media company around.
This is not the first time Musk has put major decisions to the vote of Twitter users. He conducted a poll of his followers on whether to reinstate Donald Trump’s Twitter account and allowed him back when a majority of people voted in favour of the move.
However, while Musk might now resign, there is no clear replacement for him at Twitter, with almost all the top executives having been fired or quit in recent weeks.
Musk has previously said he only planned to run Twitter for a short period until his organizational changes were implemented.
Tesla shares gained nearly 5% on news that Musk might now resign from Twitter and focus more on the electric vehicle maker.
So far in 2022, Tesla’s stock has fallen 63% to trade at $149.87 U.S. per share.
