Elon Musk, the founder and CEO of Twitter, revealed that he has appointed a woman to lead the social media site and that he will ‘transition’ to other positions inside the business.
I’m happy to report that I’ve appointed a new CEO for X/Twitter. Musk tweeted on Thursday afternoon that She will be starting in “6 weeks.”
“My role will change to executive chair and CTO, overseeing product, software, and sysops,” the employee stated.
Musk withheld the identity of the incoming CEO for the time being.
Musk purchased Twitter in October for $44billion and has faced criticism for changes he’s made to the social media platform.
Soon after becoming the ‘Chief Twit’, Musk fired some executives and hundreds of employees, saying that it was necessary to make the company healthy financially. The company has slashed about 75% of its 7,500 staff.
Musk reinstated some users who were suspended from Twitter, including former President Donald Trump who was banned after his remarks around the deadly January 6 Capitol riot.
He also implemented the Twitter Blue subscription aimed at supplementing revenue from advertising. The subscription allows users to obtain blue checkmark verification for $8 a month, a status previously given to celebrities, politicians, journalists and some other prominent individuals.
In December, Musk launched a poll asking if he should step down as head of Twitter and pledged to ‘abide by the results’. The final results showed that 57.5% of the more than 17million respondents felt ‘yes’, that Musk should step down.
Musk then vowed to leave his post as Twitter CEO once he found someone ‘foolish enough to take the job’.
Twitter’s company name was recently changed to X Corp, which is what ‘X’ referred to in Musk’s tweet.
Some Tesla shareholders were upset that Musk serving as Twitter boss was taking time away from his work with the automaker. Tesla’s shares jumped 2% after Musk’s announcement, signaling that investors were keen on the development.