Elon Musk has reportedly told a court that he aims to finish an organizational restructuring of Twitter this week and eventually find a new leader for the firm.
Musk said this while testifying in a Delaware court during a trial related to his pay package at Tesla, Reuters reported Wednesday (Nov. 16).
“There’s an initial burst of activity needed post-acquisition to reorganize the company,” Musk said of the social media platform of which he took ownership on Oct. 27, per the report. “But then I expect to reduce my time at Twitter.”
Tesla investors have expressed concern about the amount of time Musk has devoted to the Twitter reorganization, according to the report.
Twitter did not immediately respond to PYMNTS’ request for comment.
The report follows a nearly three-week span of both leadership changes and companywide layoffs that have followed Musk’s takeover of the company.
Musk fired Twitter’s senior leadership upon taking ownership of the firm on Oct. 27.
Days later, on Oct. 31, Musk dissolved the firm’s board of directors, letting all nine members go. At that point, Musk became the sole director of the company.
On Nov. 8, Twitter announced that it was making significant staff cuts — as had been predicted by many observers — and began reducing its staff by 3,700 people.
Two days after that, on Nov. 10, it was reported that two members of Musk’s new leadership team at the social media platform resigned: Yoel Roth, who oversaw Twitter’s trust and safety efforts, and Robin Wheeler, a sales vice president. Roth had taken that position after Musk pushed out most of the company’s executive team.
On the same day, three other executives — the chief information security officer, the chief privacy officer and the chief compliance officer — left the company.