Twitter has gotten a new Chief Executive Officer (CEO) to govern to affairs of the micro-blogging app.
Its boss, Elon Musk revealed he has hired a woman to replace him as the new CEO of the widely used social media app.
Taking to his Twitter handle, Musk said the new CEO was expected to resume office in the next six weeks.
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He said:
“Excited to announce that I’ve a new CEO for X/Twitter. She will be starting in ~6 weeks!
“My role will transition to being exec chair & CTO (chief technology officer), overseeing product, software & sysops.”
However, he was yet to announce the identity of the new CEO.
Musk, the CEO of Tesla and SpaceX, purchased Twitter in October 2022.
Since acquiring the company for about forty-four billion dollars ($44 billion), Musk has reduced Twitter’s staff by approximately 70 per cent, including the entire executive team.
Following the announcement, Tesla’s shares reportedly increased by more than 2 per cent, indicating investor satisfaction with the move.
Despite this, a group of shareholders publicly urged the board in April to ensure that Musk dedicated more time to the company.
The letter said the group had become “increasingly concerned with governance and leadership issues at the company.”
