In a recent tweet, Elon Musk, the CEO of Twitter, announced that he has chosen a new chief executive for the social media platform. However, he did not disclose the name of his replacement. Musk expressed his excitement about the appointment and revealed that the new CEO will begin their role in approximately six weeks. As for himself, Musk stated that he will transition to the positions of executive chair and chief technology officer (CTO), where he will oversee product development, software, and system operations.
This decision by Musk is expected to address concerns raised by Tesla investors who have been worried about his extensive involvement in Twitter, alongside his responsibilities at SpaceX, his rocket company. As a result of Musk’s announcement, Tesla shares experienced a 2.4 percent increase in trading volume.
In November, Musk had mentioned his intention to reduce his involvement with Twitter and find a suitable leader to manage the social media company, although he had not previously revealed any potential candidates.
Following Musk’s acquisition of Twitter in October, his initial two weeks as the new owner were marked by significant changes. He promptly dismissed Parag Agrawal, the previous CEO of Twitter, as well as other top executives, and proceeded to lay off half of the company’s workforce in November.
Musk, who claims to be an advocate of free speech, assumed control of Twitter to prevent it from becoming an echo chamber that fosters hatred and division. He also expressed his determination to combat spam bots on the platform, an issue that sparked conflicts with Twitter’s board during discussions about the $54 billion (approximately Rs. 4,43,550 crore) buyout of the company.
