Elon Musk Announces He’s Stepping Down as Twitter CEO

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Elon Musk, the CEO of Twitter, said on Thursday that the social media platform has a new CEO, but he did not specify who he/she is.

“I’m happy to announce that X/Twitter has a new CEO. She will begin in around 6 weeks, Musk tweeted.

According to Elon Musk, he will become “executive chair & CTO, overseeing product, software & sysops”.

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Investors at Tesla, who have grown more concerned about the amount of time Musk is devoting to turning around Twitter, are likely to feel better as a result of the decision. Musk also owns the rocket firm SpaceX.


On the news, Tesla stock increased 2.4 percent in volume.

Musk hasn’t previously named any potential candidates, although he did say in November that he intended to spend less time at Twitter and eventually select a new boss to operate the social media firm.

The initial two weeks of the billionaire’s ownership of Twitter in October were characterized by fast change. The previous CEO of Twitter, Parag Agrawal, and other senior executives were swiftly ousted, and in November, he laid off half of the company’s workers.

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Musk, a self-described adamant defender of free expression, claims he took control of Twitter to stop it from turning into a forum for hatred and division.

In his dispute with Twitter’s board over their back and forth on the $54 billion (about Rs. 4,43,550 crore) takeover of the firm, he also pledged to “defeat” spam bots on Twitter.

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