• Home
  • Tech News
  • Elon Musk Announces New CEO for Twitter, Stepping Down to Executive Chairman & CTO

Elon Musk Announces New CEO for Twitter, Stepping Down to Executive Chairman & CTO

Elon Musk Tweeted Thursday that he has hired “a new CEO for X/Twitter,” adding “she will be starting in 6 weeks!” He also noted that he would transition to the roles of Executive Chairman and Chief Technology Officer (CTO) at Twitter.

Musk will stay on to oversee “product, software & sysops” specifically. Some commenters on the Tweet are already speculating who the new CEO may be, but most are replying with jokes and photoshopped pictures of Musk.

It should be noted that Twitter’s corporate name was changed to ‘X Corp.’ last month, coinciding with its decision to move its headquarters to Nevada.

Musk has held the position of CEO at Twitter for just under 200 days since he bought the company and he will likely continue to do so for at least the next 6 weeks.

Musk has seen an inundation of criticism since he has taken over Twitter from news outlets, Twitter users and the general public due to various scandals and changes implemented on the platform.

Investors in Musk’s other companies, especially Tesla, seem to be happy with his decision to step away from Twitter as CEO. Tesla stock spiked over 2% in a matter of a few minutes after his tweet.

Investors may percieve his role at Twitter as a distraction from his duties as the CEO of Tesla. Others worry that if Musk’s reputation worsens due to his actions at Twitter, it may affect Tesla’s prospects because he is such an important figure in the company.

Experts have already criticized Tesla’s board of directors, arguing that it is their fiduciary duty to reign him in and ensure he is focused on Tesla.

Twitter also may benefit from a new CEO. Its advertising business has suffered significantly since Musk purchased the company. His various controversies may have brought more eyes to Twitter but they seem to be pushing advertisers away.

Related Articles:

15+ New Cryptocurrencies to Invest in 2023 – Compare New Crypto to Buy

Google Launches PaLM 2 LLM, Is It Better Than ChatGPT?

Tether’s Q1 Net Income Was Higher than World’s Largest Asset Manager Blackrock’s

What's the Best Crypto to Buy Now?

  • B2C Listed the Top Rated Cryptocurrencies for 2023
  • Get Early Access to Presales & Private Sales
  • KYC Verified & Audited, Public Teams
  • Most Voted for Tokens on CoinSniper
  • Upcoming Listings on Exchanges, NFT Drops