New York CNN
Elon Musk said on Thursday that he has found a new Twitter CEO, months after first promising to step down from the role.
Musk announced that the new CEO would assume his role at Twitter Inc. (which recently changed its brand name to X Corp.) in the next few weeks. Musk did not name the person.
'I'm excited to announce that X/Twitter has a new CEO. She will start in about 6 weeks! Musk tweeted the following.
Musk, who had a chaotic reign in the role of 'Chief Twit,' after buying the company last October, announced that he would become Twitter's chief technology officer and executive chair, overseeing software, product and system operations.
Musk asked users to vote on whether they thought he should leave his position as Twitter CEO in December. The majority of respondents voted yes. Musk initially said that he would follow the results of the survey, but then retracted his statement and stated he was willing to hand over the position 'as quickly as I can find someone stupid enough to do it!' Musk reiterated in February that he would find a new replacement before the end of the calendar year.
Musk has been criticized for a number of policy changes made at Twitter. These often occurred without clear explanation and raised concern about their impact on Twitter users.
He is also trying to convince advertisers that they should return to the platform after many left due to concerns over hateful conduct, Twitter's mass firings, or the future of the company. He has also been trying to convince users to subscribe to a new platform, which includes the option to pay for the blue verification checkmark. However, this appears to be having limited success so far.
Musk, who is also involved with or runs numerous other companies including Tesla (TSLA), has been criticized by Tesla (TSLA), which is concerned that he's distracted by Twitter.
Musk said recently that Twitter was now "trending towards break-even" after stating previously that it was in danger of bankruptcy. The company's newly appointed CEO will now be charged with helping turn around the struggling business and help Musk recover some of the $44 Billion spent on acquiring the platform.
Musk will continue to have a significant influence on the direction the company takes, even as he prepares to leave the role of CEO. Musk, who took over the company last October, cleared out the C-Suite and dissolved the Board of Directors. He then became the sole director and CEO of the platform.