SAN FRANCISCO: Elon Musk, the CEO of Twitter, announced on Thursday that he has hired a new CEO for the social media site, who will begin in roughly six weeks.
Musk stated in a tweet that “my role will transition to being exec chair & CTO, overseeing product, software & sysops.”
In November, Musk stated that he anticipated working less at Twitter and eventually hiring a new CEO to take over the social media company.
Investors at Tesla, who have grown more concerned about the amount of time Musk is devoting to turning around Twitter, are likely to feel better as a result of the decision.
On the announcement, shares of Tesla Inc. increased 2.4% in volume.
