Elon Musk has chosen a new CEO of Twitter and plans to step down from the role within weeks, the billionaire entrepreneur said on Thursday.
via: The Hill
Elon Musk said Thursday he has found a new CEO for Twitter, or X Corp. as it’s now called. He did not name the person but said she will be starting in about six weeks.
Musk, who bought Twitter last fall and has been running it since, has long insisted he is not the company’s permanent CEO.
The Tesla billionaire said in a tweet Thursday that his role will transition to being Twitter’s executive chairman and chief technology officer.
Musk has been saying for nearly six months that he plans to find a new CEO for San Francisco-based Twitter. In mid-November, just a few weeks after buying the social media platform for $44 billion, he told a Delaware court that he does not want to be the CEO of any company.
While testifying, Musk said “I expect to reduce my time at Twitter and find somebody else to run Twitter over time.”
More than a month later, he tweeted in December: “I will resign as CEO as soon as I find someone foolish enough to take the job.” The pledge came after millions of Twitter users asked him to step down in a Twitter poll the billionaire himself created and promised to abide by.
In February, he told a conference he anticipated finding a CEO for Twitter “probably toward the end of this year.”
Shares of Tesla rose about 2% Thursday after Musk made the announcement. Shareholders of the electric car company have been concerned about how much of his attention is being spent on Twitter.
