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
Twitter’s new CEO has arrived
Musk said in a tweet that “I am very excited to announce that X/Twitter A new CEO has been found. She’ll be starting in 6 weeks!” Musk said he would step down as CEO and serve as executive chairperson and CTO of Product, Software and Sysops.
Tesla will get a boost
It would not be wrong to say that with this step of Musk Tesla Investors are likely to be relieved, as Musk continued to devote a lot of his time to Twitter. Apart from this, Musk also runs a rocket company SpaceX. Tesla shares rose 2.4 percent in a volume spike following the news.
Musk said in November that he was looking for a CEO to run the social media company to reduce his time on Twitter, although he had never before named a candidate.
Twitter had changed
The Tesla owner and billionaire made a rapid first two weeks as the new Twitter CEO in October. He first removed the then Twitter CEO Parag Agarwal and other senior officials from their posts. Then in November, about half of Twitter’s employees were fired.
Elon Musk Said they bought Twitter to prevent it from becoming a hub of hate and divisiveness. He also said that he would eliminate spam bots on Twitter.