Months after acquiring Twitter and fumbling most of its operations, Elon Musk is stepping down as the CEO soon, he announced this week.
He started hiring a female CEO for his role, who’ll be joining the board in six weeks. Musk, on the other hand, will convert himself into a Chief Technology Officer, while also being the executive chairman of the social media company.
A New CEO For Twitter
Maybe the new owner of Twitter is tired already, as Elon Musk is transitioning his role from being a CEO to CTO soon. He announced this decision today on Twitter, where he revealed hiring a female CEO for his current post – who’ll be joining the company in six weeks.
Excited to announce that I’ve hired a new CEO for X/Twitter. She will be starting in ~6 weeks!
My role will transition to being exec chair & CTO, overseeing product, software & sysops.
— Elon Musk (@elonmusk) May 11, 2023
As we await to see who she is, Musk will also bear the executive chairman post of Twitter, thus making all the major moves from the corner. In a related space, Tesla shares have pumped sharply on this news, in late Thursday hours.
Tesla investors have not been fond of Musk taking over Twitter, as the billionaire had been investing much of his time playing with the social media platform – rather than focusing on the hit businesses such as Tesla and SpaceX. Well, since he’s partially offsetting the burden, it’s a rejoicing moment for investors.
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