Elon Musk hires new FEMALE CEO for Twitter – but doesn’t name her – as he teases plans to step back as boss of social media firm in next six weeks
- Musk made the announcement on Twitter Thursday afternoon
- He hasn’t revealed the identity of new CEO, but said he’ll become firm’s CTO
- Shares at Tesla, where Musk is also CEO, jumped 2 percent following the news
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Twitter boss Elon Musk says he’s hired a woman to take over from him as the social media network’s chief executive officer.
Musk, who bought Twitter in October 2022, tweeted: ‘Excited to announce that I’ve a new CEO for X/Twitter. She will be starting in ~6 weeks!
‘My role will transition to being exec chair & CTO (chief technology officer), overseeing product, software & sysops.’
Musk didn’t reveal the identity of his new CEO. He has slashed around 70 percent of Twitter’s staff since buying the firm for $44 billion, including its entire executive team.
Elon Musk announced the news on Twitter, but did not reveal the identity of the new CEO
Twitter CEO Elon Musk says he’s hired a new female CEO to take over from him – but he’s yet to name her
Musk, who is also the CEO of Tesla and rocket maker SpaceX, completed the acquisition of Twitter on October 28.
He immediately made his mark – but his tenure has not been without controversy.
Changes such as the Twitter Blue subscription and bringing back previously banned users to the platform have been met with widespread backlash.
He has also laid off thousands of the company’s workforce in an effort to significantly cut costs.
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He also attempted to develop the site’s subscription feature as a means of supplementing its advertising revenue.
Under the new system, users would have to pay an $8 monthly fee in order to have their account verified – and receive the site’s signature blue tick.
Previously, the site would award a verified account to notable figures such as politicians, celebrities and journalists.
However Twitter appeared to partially backtrack on its new model by reinstating some legacy accounts including LeBron James and William Shatner.
On Wednesday, he announced a new encrypted messaging privacy feature was announced as part of Twitter’s goal to become he ‘most trusted platform on the internet’.
However today he warned users that the feature should not be trusted, and that it was ‘not quite there yet’ despite his initial jokes that he could not view messages even with a ‘gun to [his] head’.
Immediately following the announcement, Tesla’s shares 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 that they had become ‘increasingly concerned with governance and leadership issues at the company.’
Musk’s announcement comes months after he pledged in December to step down as the head of Twitter as soon as he found someone ‘foolish enough to take the job.’
Developing story, check back for updates…
