A picture of recent Twitter owner Elon Musk is seen surrounded by Twitter logos on this photo illustration in Warsaw, Poland on 08 November, 2022.
STR | Nurphoto | Getty Images
Elon Musk said Thursday that Twitter is getting a latest CEO and that he’ll move to a product and technical role.
Musk said via Twitter that the brand new CEO, an unnamed woman, would start in about 6 weeks.
He added that he would transition “to being exec chair & CTO, overseeing product, software & sysops.”
Tesla shares jumped greater than 2% in an indication that investors were pleased concerning the move.
Several Tesla investors were concerned that Musk was too distracted with running Twitter and that he should redirect his time to steering the electrical vehicle company Tesla, through which he’s the CEO.
Musk, who can also be CEO of the reusable rocket maker SpaceX, accomplished the $44 billion acquisition of Twitter on Oct. 28 and made his mark there immediately. He fired the corporate’s top executives and laid off tons of of employees.
Under Musk’s leadership, Twitter’s core promoting business has suffered as multiple firms halted their paid promotional campaigns because the social messaging service saw a rise in offensive speech and hateful rhetoric, several advocacy groups have documented.
He has also allowed previously banned users back on to the platform and courted political controversy with statements resembling saying that the media was racist against white and Asian people.
Twitter has also weathered several technical errors during Musk’s tenure as CEO that coincided with massive layoffs, which he pitched as essential for the financial health of the corporate.
That is breaking news. Please check back for updates.
