Elon Musk Steps Down as Twitter CEO
Elon Musk, the CEO of Tesla and SpaceX, has announced on his Twitter account that he has hired a new CEO for Twitter, who will start in about 6 weeks. Musk did not disclose the name of the new CEO but mentioned that it will be a woman. Once the new CEO takes over, Musk will serve as Chairman of the Board and Chief Technology Officer (CTO), overseeing products, software and services.
Musk had earlier launched a poll in December 2021 asking Twitter users if he should step down as CEO, with 57.5% voting in favor of him leaving and 42.5% voting for him to continue. He had then stated that he would only resign as Twitter CEO as soon as he found someone “stupid” enough to take over the management of the company.
Tesla shareholders have been concerned that Twitter was a distraction for Musk, preventing him from focusing on his duties at Tesla. Musk’s decision to hire a new CEO could provide some relief to Tesla shareholders and allow him to focus on his other business ventures. However, it remains to be seen who the new CEO of Twitter will be and what changes they will bring to the company.
