Elon Musk says he has found a new CEO for Twitter

Elon Musk says he has found a new CEO for Twitter

Tech News

Elon Musk Thursday said he has found a new chief executive for Twitter. He did not name the person but said she will be starting in about six weeks.

“My role will transition to being exec chair & CTO, overseeing product, software & sysops,” Musk said in a tweet.

The Tesla CEO bought Twitter last fall and has been running it since then. He always insisted that he is not the permanent CEO of the social media platform.

In November he told a Delaware court that he does not want to be the CEO of any company. While testifying in the court, Musk said “I expect to reduce my time at Twitter and find somebody else to run Twitter over time.”

In December he conducted a poll on the micro-blogging site that should he step down as head of Twitter and promised to abide by the poll results. Later he twitted, “I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams.”

In February this year, he told a conference that he anticipated finding a CEO for Twitter “probably toward the end of this year.”

Tesla shares jumped 2.4% in volume spike on the news.

Several Tesla investors were concerned that Musk was too distracted with running Twitter and that he should redirect his time to steering the electric vehicle company where he is also CEO. In April, a host of progressive Tesla shareholders publicly urged Tesla’s board to ensure that Musk would dedicate more time to the automobile company, CNBC reported.





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