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Thursday, June 8, 2023

Elon Musk Stepping Down as Twitter CEO, Becoming Executive Chair

Twitter CEO Elon Musk on Thursday declared that the company’s future CEO will be a woman.

“Excited to announce that I’ve a new CEO for X/Twitter. She will be starting in ~6 weeks!” Musk exclaimed on Thursday afternoon in a tweet.

Musk did not reveal the identity of the next CEO. She is scheduled to begin working in June.

READ MORE: Elon Musk Unveils Game-Changing Video Chat 

The South African-born entrepreneur stated that he will remain an executive in the company. Musk will be in charge of main functions such as product and software development.

“My role will transition to being exec chair & CTO, overseeing product, software & sysops,” Musk continued.

Musk’s remark alluded to X Corp., a privately held business into which Twitter joined.

Twitter has seen significant modifications in the last year. According to a story released earlier this month, Musk reduced Twitter’s workforce to roughly 1,000 personnel.

“The issue is like the company’s going to go bankrupt if we do not cut costs immediately,” Musk told BBC News in April. “This is not a caring, uncaring situation. It’s like if the whole ship sinks then nobody’s got a job.”

ALSO READ: Elon Musk and AI Scientists Seek Freeze on Training Systems Stronger than GPT-4

Musk completed the $44 billion acquisition of Twitter in October of last year. Musk has since laid off thousands of staff, including those in the communications department. He made several changes to the site, including the removal of “legacy bluechecks” — commonly known as verification badges. Musk added additional features to Twitter Blue, the company’s subscription program, including the ability to publish lengthier tweets, longer videos, and editing tools.

Musk just unveiled new capabilities like as phone and video calls, as well as encrypted direct communications.



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