May 12, 2023
Elon Musk had revealed that he has hired a new CEO for the social media platform, Twitter. Although he refrained from disclosing the identity of the incoming executive, Musk stated that the individual would assume the role in approximately six weeks.
The decision means Musk will step down from his current position as the de facto leader of Twitter since its acquisition last fall.
Despite facing criticism from Tesla shareholders for dividing his attention away from the automaker, Musk intends to transition to the positions of executive chair and Chief Technology Officer (CTO) within the company. In these roles, he will oversee product development, software operations, and system operations.
This move aligns with Musk’s prior statement to eventually replace himself as the head of Twitter. In December, he conducted a Twitter poll, wherein 57.5% of users voted in favor of his stepping down as CEO. Musk has consistently expressed his disregard for the CEO title, regarding it as a meaningless construct.
Furthermore, Musk’s announcement hinted at a broader vision for the future of Twitter. He mentioned that the new CEO would lead “X/Twitter,” possibly referring to the recent establishment of a new legal entity that incorporated Twitter and relocated its corporate headquarters from Delaware to Nevada.
The news has sparked intense speculation among insiders from the tech and media industries, as they eagerly await the revelation of the new CEO’s identity.
The sources for this piece include an article in Axios.
