Elon Musk tweeted Thursday he has found a new CEO for Twitter, or X Corp. as it's now called. He did not name the person but said she would start in about six weeks.
Musk, who bought Twitter last fall and has been running it since has long insisted he is not the company's permanent CEO.
The Tesla billionaire tweeted Thursday that his role will transition to being Twitter's executive chairman and chief technology officer.
Musk has been saying for nearly six months that he plans to find a new CEO for San Francisco-based Twitter. In mid-November, just a few weeks after buying the social media platform for $44 billion, he told a Delaware court that he did not want to be the CEO of any company.
Shares of Tesla rose about 2% Thursday after Musk made the announcement. Shareholders of the electric car company have been concerned about how much of his attention is being spent on Twitter.
- Elon Musk has found a new CEO for Twitter.
- Musk will transition to being Twitter's executive chairman and chief technology officer.
- Musk has been saying for nearly six months that he plans to find a new CEO for Twitter.
- Shares of Tesla rose after Musk made the announcement.
The above article was written, edited, and reviewed with AI assistance by experienced CEO.com journalists and researchers to produce the most accurate and highest-quality information.