Despite being CEO of many companies, the richest man in the world, Elon Musk, said Wednesday in court of not wanting to be CEO of any company.
This comes after Musk added “Twitter” to the list of companies he runs, such as the producer of auto electric power companies “Tesla” and the US defense contractor company “SpaceX”.
Musk confirmed his tenure as Twitter CEO is temporary, saying, “I’m looking for another person to run the company.”
The comments come as Musk and Tesla are under investigation in Delaware for the company’s 2018 CEO compensation package, an unprecedented compensation plan that made Musk a billionaire and the richest person on the planet.
Shareholder Richard J. Tornita sued in judgment Musk and Tesla, arguing that the bonus of the CEO was excessive and that its authorization by the Tesla board of directors amounted to a breach of its fiduciary duty.
Musk clarified during his testimony in court that CEO is not necessarily an apt description of the job he says he does at his companies.
“At (SpaceX), I’m really in charge of rocket engineering… e in (Tesla) for technology inauto which makes him successful,” Musk said. “So, the CEO is often seen as sort of business- targeted role, but in reality, my role is that of an engineer who develops technology and makes sure that we are developing cutting-edge technology and that we have a team of extraordinary engineers in able to achieve these goals”.
He added, “My experience is that great engineers will only work for a great engineer, and that is my first duty, not the CEO’s.”
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