Elon Musk announces in a blitz that he is stepping down as CEO of Twitter! What is his role going forward…? He also mentions the new CEO who will succeed him

Last Updated on 05/12/2023 by てんしょく飯

Businessman and Twitter CEO Elon Musk has announced that he is stepping down as CEO.

‘I’m excited to announce that we have a new CEO!

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

Last October, Elon Musk made headlines when he acquired Twitter for USD 44 billion (USD 6.6 trillion). After the acquisition process was completed, he took on the role of Chief Executive Officer (CEO) of the company.

After Elon Musk took over as CEO, he laid off a large number of employees in order to turn the company around. He has also taken bold steps, such as charging for certification badges, which has led to a lot of criticism.

On 19 December last year, Elon posted on his Twitter account, “Should I step down as CEO of Twitter? I stand by the results of this survey”. Then, as many as 57.5% of people voted ‘yes’, with more than a majority of people saying that he should quit.

Such is the decision of Elon that he has indeed decided to step down as CEO.

On 11 May local time, Elon wrote on Twitter, “I’m excited to announce that we have a new CEO for X(*)/Twitter Inc. She will be taking over in six weeks time. I will now transition to Executive Chairman and CTO (Chief Technology Officer), overseeing product, software and system administrators”, revealing that a replacement CEO has already been selected and that the person is a woman, although she did not reveal her name.

*X Corporation, Elon’s company that merged with Twitter Inc.