Tesla CEO, Elon Musk, announced on Thursday that a new CEO has been found for social media platform, Twitter. Although he did not name the new CEO, Musk stated that the new CEO would be starting their position in about six weeks. Musk will transition to being an “exec chair & CTO, overseeing product, software & sysops”. This move is likely to please Tesla investors who have been concerned about the amount of time that Musk has been spending on Twitter, while also running SpaceX. Upon hearing the news, Tesla shares jumped 2.4 percent in volume spike.
Musk has previously stated that he would step back from Twitter and find a new leader to run the social media company. However, he had not named any potential candidates until now. Musk fired Twitter’s previous CEO, Parag Agrawal, and other senior leaders in his first two weeks as the new Twitter owner in October. In November, he laid off half of Twitter’s staff.
As a self-proclaimed free speech absolutist, Musk has said that he took over Twitter to prevent the platform from becoming an echo chamber for hate and division. He also stated that he would “defeat” spam bots on Twitter, which was a key point of his tussle with Twitter’s board over his back and forth on the $54 billion buyout of the company.
Overall, Musk’s appointment of a new CEO for Twitter is a positive move for both Tesla investors and Twitter users. It remains to be seen who the new CEO is and what changes they will make to the social media platform.
Leave a Reply