Elon Musk says he’s stepping down as Twitter CEO, unnamed female CEO for X/Twitter to start in 6 weeks

After weeks of rumors, Elon Musk finally made it official that he would be stepping down as the CEO of Twitter and and that he will shift to a product and technical role.

In a post, Musk stated that the woman, who has not been named yet, will take up the position in approximately 6 weeks. He also mentioned that he would shift “to being exec chair & CTO, overseeing product, software & sysops.”

“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,” Musk tweeted.

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

The stock price of Tesla rose by over 2%, indicating that investors were happy with the recent announcement.

Previously, some Tesla investors had expressed concerns that Musk was too focused on his role as CEO of Twitter and should devote more of his attention to leading the electric vehicle company. In fact, a group of progressive Tesla shareholders publicly urged the company’s board in April to ensure that Musk would spend more time on Tesla.

Musk, who also serves as CEO of SpaceX, acquired Twitter for $44 billion in October 2022 and took swift action to make changes. He fired several top executives and laid off hundreds of employees.