Elon Musk, the tech magnate and recent Twitter owner, unveiled a surprising turn of events on May 11th — the appointment of a new CEO for the social media giant. Remaining tight-lipped about the individual’s identity, Musk also announced his transition to the role of Chief Technology Officer (CTO) at Twitter within the next few weeks.
Sharing his excitement via a tweet, Musk stated, “I’ve hired a new CEO for X/Twitter. She will be starting in approximately six weeks!”. Despite previously withholding potential successors’ names, speculation over the new CEO’s identity was rife, particularly on Blind, an anonymous tech community platform.
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, 2023Among the rumoured candidates were ex-YouTube CEO Susan Wojcicki, former Yahoo CEO Marissa Mayer, and Neuralink executive Shivon Zilis. High-ranking female executives from Musk’s other ventures, such as Gwynne Shotwell of SpaceX and Tesla’s Chair Robyn Denholm, were also considered possible contenders.
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Musk’s dual role as Twitter’s Executive Chair and CTO will focus on overseeing product development, software, and system operations. This shift in roles has positively influenced Tesla’s shares, with a 2.1% increase recorded after the announcement, allaying investor anxieties around Musk’s active Twitter involvement.
Concerns had arisen regarding Musk’s capacity to manage Twitter alongside his other endeavours, with some suggesting it could spread the billionaire too thin. However, with this announcement, Musk seems to have unburdened himself of the “Twitter anchor,” as analyst Craig Irwin put it, allowing him to refocus on Tesla’s value creation.
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Musk’s journey as Twitter’s owner has been marked by bold decisions, including the firing of the former CEO, Parag Agrawal, and other senior leaders, followed by significant staff layoffs. Now, with the impending arrival of a new CEO, a fresh chapter begins for the social media behemoth.
With a commitment to thwarting spam bots and preventing Twitter from becoming a hotbed of hatred and division, Musk appears ready to change the platform’s landscape. Only time will reveal who he has chosen to helm this venture.
This news is based on a report by INQUIRER.net
