Elon Musk says he has appointed a new Twitter chief executive who will begin leading the social media platform in six weeks.
The billionaire has been Twitter’s chief executive since the company’s $44 billion acquisition in October, but has always hinted that it would be temporary. Musk wrote on Twitter on Thursday: “Excited to announce that I have hired a new CEO for X/Twitter. She will start in ~6 weeks!”
He added that he will move on as executive chair and chief technology officer, “overseeing product, software and sysops. [systems operations]He did not name the person he wanted to appoint as chief executive.
Tesla shareholders made the announcement as the electric car maker, which Musk also runs, is under increasing pressure to return to the company, whose shares have fallen 30 percent over the past year. Tesla shares jumped nearly 2 percent on the news.
Twitter’s investors and bankers are also eager for Musk to choose new management as soon as possible, according to people familiar with the matter.
In December, Musk said he would soon step down as Twitter’s chief executive because he found someone “stupid enough to take the job”. The poll polled 17.5 million votes, with 57.5 percent calling for him to step aside.
His six months at the helm of Twitter have been marked by significant change, in which he has reduced its headcount by nearly 90 percent and eased content moderation. The move alienated some high-profile users and advertisers, affecting the social media platform’s revenue.
However, Musk said in March that Twitter’s finances were improving following its cost-cutting efforts, so the company could return to posting positive cash flow next quarter. It announced several new features in recent weeks, including encrypted messaging.
