Elon Musk staying on as Twitter CEO until end of year 'not what Street wants to hear'
Michael Gonzalez

Elon Musk said on Wednesday that he would try to find a successor to be Twitter (TWTR) CEO before the end of the year, a sentiment that is not making Wall Street happy.
"I think I need to stabilize the organization and just make sure itâs in a financially healthy place and that the product roadmap is clearly laid out," Musk said, according to CNBC, at the World Government Summit.
Musk, who is also the CEO of Tesla (NASDAQ:TSLA) and SpaceX, added that he guessed good timing to find someone else to run the company would be "probably towards the end of this year," as that is when he sees the company being stable enough to hand it to someone else.
Wedbush Securities analyst Dan Ives took to the social network to say that timeframe is not something investors want to hear. 
"Musk moving the goal posts on naming Twitter CEO to end of 2023 not what Street (or us) wants to hear," Ives wrote. "The Twitter distraction risk has clearly been toned down over the past few months but still remains a lingering concern for investors."
In December, it was reported that Musk was actively searching for a new CEO for the embattled social network.
That same month, Musk confirmed that he would resign as Twitter (TWTR) CEO as soon as he found "someone foolish enough to take the job."
Tesla (TSLA) shares have gained 93% year-to-date as equity markets have rebounded from a difficult 2022.
Last month, it was reported that Twitter's (TWTR) daily revenues have plummeted 40% from the same time a year ago.