Elon Musk mentioned Thursday he has discovered a brand new CEO for Twitter, or X Corp. because it’s now referred to as. He didn’t identify the particular person however mentioned she will likely be beginning in about six weeks.
Musk, who purchased Twitter final fall and has been operating it since, has lengthy insisted he’s not the corporate’s everlasting CEO.
The Tesla billionaire mentioned in a tweet Thursday that his position will transition to being Twitter’s government chairman and chief know-how officer.
Musk has been saying for almost six months that he plans to discover a new CEO for San Francisco-based Twitter. In mid-November, just some weeks after shopping for the social media platform for $44 billion, he instructed a Delaware court docket that he doesn’t wish to be the CEO of any firm.
Whereas testifying, Musk mentioned “I expect to reduce my time at Twitter and find somebody else to run Twitter over time.”
Greater than a month later, he tweeted in December: “I will resign as CEO as soon as I find someone foolish enough to take the job.” The pledge got here after thousands and thousands of Twitter customers requested him to step down in a Twitter ballot the billionaire himself created and promised to abide by.
In February, he instructed a convention he anticipated discovering a CEO for Twitter “probably toward the end of this year.”
Shares of Tesla rose about 2% Thursday after Musk made the announcement. Shareholders of the electrical automotive firm have been involved about how a lot of his consideration is being spent on Twitter.
Final November, he was questioned in court docket about how he splits his time amongst Tesla and his different firms, together with SpaceX and Twitter. Musk needed to testify within the trial in Delaware’s Courtroom of Chancery over a shareholder’s problem to his doubtlessly $55 billion compensation plan as CEO of the electrical automotive firm.
Musk mentioned he by no means supposed to be CEO of Tesla, and that he didn’t wish to be chief government of every other firms both, preferring to see himself as an engineer. Musk additionally mentioned he anticipated an organizational restructuring of Twitter to be accomplished within the subsequent week or so. It’s been almost six months since he mentioned that.
Bantering with Twitter followers late final 12 months, Musk expressed pessimism in regards to the prospects for a brand new CEO, saying that particular person “must like pain a lot” to run an organization that “has been in the fast lane to bankruptcy.”
“No one wants the job who can actually keep Twitter alive. There is no successor,” Musk tweeted on the time.