Elon Musk, the CEO of Twitter, has stated that he has hired a woman to succeed him as the company’s new CEO.
Musk, who purchased Twitter in October 2022, tweeted, ‘Excited to announce that I’ve a new CEO for X/Twitter. She will begin in six weeks!
‘My role will change to executive chair and CTO (chief technology officer), supervising product, software, and sysops.’
Musk has not yet stated who his new CEO is. He has reduced over 70% of Twitter’s workforce since purchasing the company for $44 billion, including the entire leadership team.
Musk is also the CEO of Tesla and SpaceX, two rocket companies.
Shortly after the announcement, Tesla’s shares reportedly jumped more than 2 percent, in a sign that investors were pleased about the move.
A group of shareholders publicly urged the board in April to ensure that Musk dedicated more time to the company.
The letter said they had become ‘increasingly concerned with governance and leadership issues at the company.’
