Elon Musk Hires New Twitter CEO as He Announces to Take Executive Chair, CTO Position

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Twitter CEO Elon Musk mentioned on Thursday that he has discovered a brand new chief government for the social media platform with out naming his substitute.

“Excited to announce that I’ve bought a brand new CEO for X/Twitter. She will likely be beginning in ~6 weeks!,” Musk mentioned in a tweet.

Musk mentioned he would transition to being “exec chair & CTO, overseeing product, software program & sysops”.

The transfer is prone to allay Tesla traders’ considerations, who’ve been more and more nervous in regards to the time that Musk is devoting to turning round Twitter. Musk additionally runs the rocket firm SpaceX.

Tesla shares jumped 2.4 % in quantity spike on the information.

Musk, who mentioned in November he anticipated to scale back his time at Twitter and finally discover a new chief to run the social media firm, has not beforehand named any potential candidates.

The billionaire’s first two weeks as the brand new Twitter proprietor in October had been marked by speedy change. He shortly fired Twitter’s earlier CEO Parag Agrawal and different senior leaders after which laid off half its employees in November.

Musk, a self-proclaimed free speech absolutist, has mentioned he took over Twitter to stop the platform from changing into an echo chamber for hate and division.

He additionally mentioned he would “defeat” spam bots on Twitter, a key space of ​​his tussle with Twitter’s board over his backwards and forwards on the $54 billion (almost Rs. 4,43,550 crore) buyout of the corporate.

© Thomson Reuters 2023

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