Elon Musk, the CEO of Twitter, has revealed that he’ll be stepping down from his current role to embrace a new position within the company.
Excited to announce that I’ve hired a new CEO for X/Twitter. She will be starting in ~6 weeks!
My role will transition to being exec chair & CTO, overseeing product, software & sysops.
— Elon Musk (@elonmusk) May 11, 2023
As the tech mogul announced via a tweet on May 11, he will be transitioning to the roles of executive chair and chief technology officer in about six weeks’ time.
Musk stated he has chosen a new CEO for X Corp., the parent company of Twitter, who is set to assume the position in late June or early July. The identity of the incoming CEO, a woman, has not yet been disclosed.
This announcement is a significant development, given that Musk had taken over the reins of Twitter after a $44 billion acquisition in October 2022.
In his new role, Musk is set to oversee product, software, and system operations, implying a strategic focus on the platform’s technological advancements.
This development follows Musk’s controversial tenure as CEO, where he made a series of bold decisions, including overhauling Twitter’s verification system, temporarily changing its logo to Dogecoin’s symbol, and implementing several rounds of layoffs.
The forthcoming leadership transition has sparked widespread speculation among Twitter users. Guesses about the identity of the new CEO have ranged from whimsical suggestions of Musk in disguise to comparisons with infamous personalities like the former Theranos CEO, Elizabeth Holmes.
Despite stepping down as Twitter’s CEO, Musk continues to hold significant influence in the tech world as the CEO of both SpaceX and Tesla.
His impact on the digital landscape, particularly within the crypto community, remains substantial, with his tweets known to cause ripples in cryptocurrency markets.
