Elon Musk announces he has found a new CEO for Twitter

New York () — Elon Musk said Thursday that he has hired a new CEO to take over Twitter, months after he vowed to step down.

“Excited to announce that I have a new CEO for X/Twitter. It will start in ~6 weeks!”, Musk said in a tweet.

The new CEO will take over at Twitter Inc., which will change its name in the coming weeks to X Corp., Musk said. He did not provide the name of the next CEO.

Musk, who has had a chaotic reign as Twitter chief since buying the company in October, said he will become Twitter’s chief executive and chief technology officer, overseeing product, software and systems operations.

In December, Musk conducted a survey on the platform asking users if he should step back as CEO of Twitter, which ended with the majority of users voting in the affirmative. Musk said he would comply with the survey results, but later backtracked, saying he would hand over the job: “As soon as I find someone dumb enough to take the job!” In February, reiterated that he planned to find a replacement by the end of the year.

Musk has faced criticism for a series of policy changes at Twitter, which often came without clear justification and raised concerns about the impact on Twitter users.

Also has tried to convince advertisers to rejoin the platform, after many fled over concerns about hateful conduct on the platform, mass layoffs from Twitter or questions about the future of the company. At the same time, it has been trying to sell users a new paid subscription platform that includes the ability to pay for a blue checkmark, but it seems to have limited traction so far.

Musk, who runs or is involved in many other companies, including Tesla, has also faced criticism from shareholders of the electric car company, concerned that Twitter will distract him.

Musk recently said that Twitter now has “a trend toward breakeven,” after previously saying it was at risk of bankruptcy. Now the company’s new CEO will be tasked with helping turn the struggling company around and helping Musk recoup some of the $44 billion spent on the platform acquisition.

Even as Musk prepares to step down as CEO, he will likely retain significant control over the company’s future direction. After taking over the company in October, Musk removed the C-Suite, dissolved the board, and became the platform’s CEO and sole director.