Musk said in November that he hoped to reduce his time at Twitter and eventually find a new leader to run the social media company.
“My role will transition to Executive Chairman and CTO (Chief Technology Officer), overseeing products, software, and sysops,” the mogul said in a tweet.
The new CEO will start her job in about six weeks, Elon Musk wrote on Twitter. But the name of the successor is not yet known.
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
The move is likely to allay the doubts of Tesla investors, who are increasingly concerned about the time Musk spends turning Twitter around.
Tesla shares rose 2.4% on the news.
With information from Reuters
