Elon Musk aims to hire a new CEO to run Twitter by the end of 2023 with the hope of handing the company over in stable financial condition.

"I need to stabilize the organization and just make sure it's in a financially healthy place and the product road map is clearly laid out," Musk told the World Government Summit via video on Wednesday, according to Bloomberg. "I'm guessing toward the end of this year should be good timing to find someone else to run the company. I think it should be in stable condition around the end of this year."

TWITTER CREATED SYSTEM THAT ARTIFICIALLY BOOSTS ELON MUSK'S TWEETS: REPORT

Musk has intended to step away from Twitter leadership soon after his initial purchase of the platform. While the billionaire has had a heavy hands-on approach since October, he hosted a Twitter poll in December asking if he should step down. A majority of users voted "yes."

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Musk has made several high-profile changes at the company, including cutting essential staff. Musk fired a senior Twitter engineer last week after the engineer explained why the billionaire's account was experiencing a drop in interest. He also forced staff to build a system that artificially increased his views.

Twitter reported in January that its ad revenue had dropped 40% year-over-year.