In order to lead Twitter, Elon Musk claims to have hired a new CEO. Having paid $44 billion (£35 billion-plus 2 billion) last year to acquire the social media platform, he made the announcement there.
Despite not naming the organisation’s new leader, Mr. Musk said “she” would take over in six weeks, at which point he would take over as executive chairman and chief technology officer.
He has faced pressure to appoint someone else as company president so he can concentrate on his other businesses.
In a statement made last year in response to Twitter users’ vote for him to resign, he claimed that “no one wants the job who can actually keep Twitter alive.”
It was by no means certain when or even if Mr. Musk would hand over the reins, despite the fact that he had stated that he would.
Following the announcement, shares of Tesla increased. Shareholders have previously accused Mr. Musk of leaving Tesla after seizing control of Twitter and hurting the reputation of the automaker.
Sometimes it’s difficult to tell when Twitter’s billionaire owner is being serious. It would make her one of the few women to lead a significant technology company, though, if Mr. Musk had indeed hired a female executive.
Less than 10% of the chief executives of tech companies listed among America’s 500 largest companies last year were women.
Although Mr. Musk has mentioned paid Twitter Blue subscribers, the majority of Twitter’s income comes from advertising. Without a doubt, the new boss will work to strengthen his or her relationships with advertisers and allay their concerns about content moderation.
Musk, a self-described absolutist of free speech, claims he took control of Twitter to uphold free speech. Advertisers do not, however, want their content displayed next to inaccurate or extreme content. Only after a lawsuit compelled him to complete the deal did he buy Twitter in October. When he took over, Mr. Musk controversially fired thousands of employees in an effort to reduce expenses at the company, which had trouble turning a profit.
Mr. Musk claimed in March that the platform’s finances were strengthening and that his efforts had paid off.
And he claimed last month that the majority of the advertisers who had stopped using Twitter right away after the acquisition had started using it again.