Last Update: May 12, 2023, 02:22 AM IST
Tesla CEO Elon Musk has been forced to make drastic cost cuts at Twitter in a bid to find more sources of revenue. Now they have appointed a new CEO. (Image: Reuters)
New chief executive for Twitter to start in about 6 weeks
Twitter CEO Elon Musk said Thursday that he has found a new chief executive for the social media platform and its newly designated X Corporation parent.
Musk, who announced the news on Twitter, said his role at the company would change to focus more on product, software and sysops.
“Excited to announce that I have hired a new CEO for X/Twitter. She will start in ~6 weeks! My role will transition to Executive Chair and CTO, overseeing Product, Software and Sysops, he tweeted.
Excited to announce that I have hired a new CEO for X/Twitter. She’ll be starting in ~6 weeks! My role will transition to Executive President and CTO, overseeing Product, Software and Sysops.
— Elon Musk (@elonmusk) May 11, 2023
Musk, however, did not name the candidate. But said that “she will start in about 6 weeks.”
The move is likely to allay concerns from Tesla investors, who are concerned about the time Musk is devoting to Twitter’s transition.
Tesla Inc shares rose 2.4% on a volume spike, according to news agency Reuters.
Last October, Elon Musk acquired the social network for $44 billion. The purchase comes after his initial offer to buy the company in April 2022.
Following the completion of the acquisition, Musk assumed the role of CEO and was immediately replaced by former Twitter CEO Parag Agarwal as well as other top executives.
In November, he decided to downsize the company by letting go of half of his staff.
(with agency inputs)
