Current:Home > FinanceElon Musk says 'I've hired a new CEO' for Twitter-LoTradeCoin
Elon Musk says 'I've hired a new CEO' for Twitter
View Date:2024-12-23 21:08:57
Elon Musk said he has chosen someone to succeed him as chief executive of Twitter, but he did not name the new boss.
"Excited to announce that I've a new CEO for X/Twitter. She will be starting in ~6 weeks!," Musk wrote on Twitter.
The announcement of a soon-to-be named replacement has been expected, as the billionaire has suggested repeatedly that he does not intend to lead the company permanently.
He said he will still oversee the company's product and software and serve as executive chairman and chief technology officer.
As is often the case with Musk, questions hang over the seriousness of his announcement. In April, Musk told the BBC that his dog was the new Twitter CEO.
Musk did not return requests for comment. Twitter's press office responded to emailed questions with its standard autoreply poop emoji.
In December, Musk floated the idea of stepping down as Twitter's CEO. He polled his Twitter followers and nearly 58% of respondents supported him leaving his role as the social media site's leader.
Since Musk took over Twitter, around 90% of its employees have been fired or have quit. He has saddled the company with debt, just as advertisers have fled in droves.
Musk himself has raised the possibility of bankruptcy if Twitter can not turn around its financial outlook.
Musk has ruled the embattled site erratically, making policy decisions that affect the whole platform on a whim and rapidly introducing a dizzying array of changes, including stripping users of "verified" blue check marks and allowing anyone to purchase a "verified" badge.
Notably, he reactivated former President Donald Trump's account, which had been "permanently suspended" for inciting violence after the Jan. 6 siege on the Capitol. He has welcomed back on the platform right-wing users and other controversial figures who had also been previously barred violating policies rules against harassment and violent speech.
It is unclear if Musk's successor will continue to carry out his mandate of relaxing content moderation rules and attempting to find new ways to generate revenue on the ailing platform.
Musk, who also leads Tesla and SpaceX, has faced criticism for neglecting his role at his other companies with Twitter consuming much of his attention.
The electric car company accounts for most of Musk's wealth, but investors of his other companies have complained that running Twitter has become a major distraction. Tesla's stock lost 65% of its value in 2022.
After the tweet promising a new Twitter CEO was posted, Tesla's stock price shot up, perhaps a sign that investors believe Musk may soon turn his focus back to Tesla.
In December, Tesla investor Ross Gerber told Tesla's board of directors to "wake up."
Gerber added in the tweet: "Who is running Tesla and when is Elon coming back?"
veryGood! (59)
Related
- Shaboozey to headline halftime show of Lions-Bears game on Thanksgiving
- William Byron withstands Texas chaos to clinch berth in Round of 8 of NASCAR playoffs
- Israel strikes Gaza for the second time in two days after Palestinian violence
- DeSantis campaign pre-debate memo criticizes Trump, is dismissive of other rivals despite polling gap closing
- Asian sesame salad sold in Wegmans supermarkets recalled over egg allergy warning
- Libya’s top prosecutor says 8 officials jailed as part of investigation into dams’ deadly collapse
- Missouri says clinic that challenged transgender treatment restrictions didn’t provide proper care
- Lizzo tearfully accepts humanitarian award after lawsuits against her: 'I needed this'
- Father sought in Amber Alert killed by officer, daughter unharmed after police chase in Ohio
- WEOWNCOIN: The Security of Cryptocurrency and Digital Identity Verification
Ranking
- Today's Craig Melvin Replacing Hoda Kotb: Everything to Know About the Beloved Anchor
- Thousands of Armenians flee Nagorno-Karabakh as Turkish president is set to visit Azerbaijan
- Europe keeps Solheim Cup after first-ever tie against US. Home-crowd favorite Ciganda thrives again
- Costco recalls roughly 48,000 mattresses after over 500 customers report mold growth
- Moana 2 Star Dwayne Johnson Shares the Empowering Message Film Sends to Young Girls
- Florida deputies fatally shot a man who pointed a gun at passing cars, sheriff says
- Kosovo mourns a slain police officer, some Serb gunmen remain at large after a siege at a monastery
- NFL views Spain as likely next European city to host a game, being assessed for 2024
Recommendation
-
Former NFL coach Jack Del Rio charged with operating vehicle while intoxicated
-
A statue of a late cardinal accused of sexual abuse has been removed from outside a German cathedral
-
Poland accuses Germany of meddling its its affairs by seeking answers on alleged visa scheme
-
'The Amazing Race' 2023 premiere: Season 35 cast, start date, time, how to watch
-
Olivia Munn began randomly drug testing John Mulaney during her first pregnancy
-
A mayoral race in a small city highlights the rise of Germany’s far-right AfD party
-
College football Week 4 grades: Clemsoning is back. Give Clemson coach Dabo Swinney an F.
-
William Byron withstands Texas chaos to clinch berth in Round of 8 of NASCAR playoffs