Change
According to the billionaire, an unnamed executive will take over the company in about six weeks and become the company’s CTO.
InfoMoney Team May 11, 2023 6:59 pm Updated 5 hours ago
The Twitter logo and a photo of Elon Musk can be seen through a magnifying glass in this image dated October 27, 2022.
Elon Musk, Twitter’s billionaire owner, said Thursday (11) that he had hired a woman to fill the role of CEO of the social network.
In a post, Musk said the executive, who has not yet been named, will take the lead in about six weeks. In addition, the billionaire said in the text that he will be chairman and responsible for overseeing the products (CTO).
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I am pleased to announce that I have hired a new CEO for X/Twitter. It will start in about 6 weeks!
My role will transition to Executive Chairman and CTO, overseeing the Product, Software and Sysop departments.
— Elon Musk (@elonmusk) May 11, 2023
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Musk had already hinted in November that he expected to scale back his activities on Twitter and that he would eventually look for a professional successor, but did not specify who the new CEO might be.
Shares of Tesla Inc. (TSLA), the jewel in Elon Musk’s crown, closed up 2.1% on Thursday, signaling the news was well received by the market.
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Since Musk bought Twitter for $44 billion last year, investors feared the electric vehicle maker would “stand aloof” from the billionaire and Musk’s stake in Tesla would serve as a financial guarantee for the operation.
“The boat anchor called Twitter was detached from Musk’s ankle. Now he can spend more time creating value at Tesla again,” Craig Irwin, an analyst at Roth MKM, told Portal.
In a Twitter poll Musk launched in December, 57.5% of users voted for his resignation as CEO of the social media platform. “I will step down as CEO as soon as I find someone stupid enough to take the job!” Musk said at the time.
The billionaire’s first two weeks as Twitter’s new owner in October were one of rapid change. He quickly fired Twitter’s former CEO Parag Agrawal and other senior executives, then laid off half of his staff in November.
(With Portal)
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