Starting June or July, Elon Musk will serve as Twitter's executive chair and CTO.
Elon Musk reveals plans to transition from Twitter CEO to executive chair and chief technology officer (CTO) in approximately six weeks.
In a tweet on May 11th, Musk revealed that he had hired a new CEO for X Corp., Twitter's parent company, who is set to replace him sometime between late June and early July.
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The anonymous woman will change Musk, who took the reins of the social media platform in October 2022 after a whopping $44 billion acquisition.
As executive chair and CTO, Musk will focus on product, software, and system operations.
Upon taking control of Twitter, he promptly fired Parag Agrawal, the former CEO. Agrawal had succeeded Jack Dorsey, the platform's co-founder.
Musk, one of the wealthiest individuals globally, initially announced his intentions to acquire Twitter over a year ago.
During his tenure as CEO, Musk introduced several controversial company policies, such as dismantling the platform's legacy verification system, momentarily altering Twitter's logo to the Dogecoin (DOGE) symbol, and executing multiple layoffs.
On top of that, during his role as CEO, Twitter launched a cryptocurrency trading feature in collaboration with eToro. Moreover, at the end of January, the news broke that Musk allegedly instructed Twitter developers to build the platform's payment system so that it would be able to support crypto in the future.
Elon Musk is preparing to step down as Twitter CEO, moving to an executive chair and CTO roles while his mysterious successor set to take the helm in a matter of weeks.
