Elon Musk, the CEO of Twitter, has disclosed that he has appointed a woman to succeed him as the company’s new CEO.
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.’
The name of Musk’s new CEO has not yet been made public. Since purchasing the company for $44 billion, he has laid off almost 70% of its employees, including its entire executive team.
Tesla’s stock allegedly increased by more than 2 percent shortly after the announcement, indicating that investors were satisfied with the decision.
In April, a number of shareholders publicly pushed the board to guarantee that Musk spent more time on the business.
They had grown “increasingly concerned with governance and leadership issues at the company,” according to the letter.
The news from Elon Musk about hiring the woman whose identity has not been revealed as Twitter CEO is something that is bound to encourage long term stock holders who believe that it would bring long term prospects for the company.