Image Credit: Bryce Durbin / TechCrunch
Elon Musk has found a new CEO for Twitter. He says he will start in about six weeks, but did not specify who would take on the role. In A tweetMusk announced that he will serve as the social network’s CEO and as its executive chairman and chief technology officer.
“I’m excited to announce a new CEO for X/Twitter,” Musk wrote in a tweet. “He’ll be starting in ~6 weeks! My role will change to exec and CTO overseeing product, software & sysops.
Musk bought the social network last October for $44 billion and originally offered to buy it in April 2022. After the acquisition was completed, Musk took over as CEO and quickly ousted Twitter’s previous CEO, Barak Agarwal, as well as other executive leaders. He then fired half of the social network’s staff in November.
Musk has previously said he plans to step down as CEO by the end of 2023 and appoint a new chief executive. However, he has not mentioned prospective candidates before.
During his tenure as CEO, Musk has significantly overhauled Twitter’s policies and features, leading many major advertisers to suspend spending on the social network. Musk unveiled a revamped, pricier Twitter Blue subscription that allows users to purchase verification and recently removed the old “legacy” verified check marks. The site dissolved its foundation and security council and reinstated the accounts of previously banned users, including former President Donald Trump and Rep. Marjorie Taylor Green.
Musk’s decision to appoint a new Twitter CEO will satisfy Tesla investors. Following the news that he had found a replacement for the role, Tesla shares rose.
While Musk may no longer be CEO of Twitter, he still owns the company. Musk recently changed the name of Twitter Inc to X Corp. He has long wanted to create what he calls “X, everything is utility.”