Elon Musk is fulfilling his promise to step down as CEO of Twitter following a poll that asked whether he should bow out.
The entrepreneur has announced that a new female chief executive will take his place in roughly six weeks, though he has not identified her by name. Musk will remain as executive chairman and chief technical officer, overseeing product, software, and sysops.
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Musk said in December that he would respect the results of the poll, and has since been searching for someone “foolish enough to take the job.”
He has also abided by the outcomes of other polls for major decisions.
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
Musk’s tenure as CEO of Twitter has been tumultuous since he began in October. He fired the executive team and dissolved the board of directors.
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Many of the rank-and-file employees who worked before the purchase have either quit or been laid off.
Under Musk, Twitter’s looser content moderation policies, which have focused on limiting reach rather than bans, have won praise from some quarters but have also prompted some advertisers to leave due to concerns about running ads next to hate speech and misinformation.
The social network has attempted to shift more of its revenue towards subscriptions, but with limited success.
It remains to be seen how much practical control Musk will have following the leadership change.
Although he will no longer be CEO, he will still wield significant influence over Twitter’s technology and board decisions. The new hire, who Musk had a role in selecting, may be slow to change strategy.
The move could ease concerns of some Tesla investors who worried that Musk had been distracted from work at his best-known company by Twitter. With his reduced role, Musk will theoretically have more time to devote to his electric vehicle brand as it faces increasing competition.
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