Elon Musk kept his word and will step down as CEO of Twitter. The tycoon announced through the social network that he has already found a person to replace him.
This Thursday, the businessman published the news through his official Twitter account, informing that he already has a new CEO. Although he did not give further details, it is known that the person who will be in charge of the social network is a woman and that she will start in six weeks.
Musk also reported that Twitter Inc. will change its name to X Corp. and that, although he will no longer hold the position of chief executive officer, he will continue to play an essential role in the company.
"My role will transition to being exec chair & CTO, overseeing product, software & sysops," he explained.
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
Since Musk assumed leadership of the social network, he has faced multiple criticisms for the changes he has made to the platform. In December, he was encouraged to conduct a Twitter poll asking users whether they thought he should step down. The survey showed that most people wanted Elon Musk to leave office, and the tycoon assured that he would yield to user preferences and promised that as soon as he found someone "dumb enough to take the job," he would no longer be the CEO of Twitter.
Elon Musk bought the social network in November for $44 billion, but since then, the platform's major advertisers have reduced their investment by nearly 90%, and the social network is now worth about half of what he initially paid.
