Elon Musk Announces Resignation as CEO of Twitter
Elon Musk, the billionaire entrepreneur and CEO of various companies, has announced his resignation as CEO of Twitter. However, he has already found a successor who will take over his role in about six weeks. Musk has not yet revealed the identity of his successor, but he will remain as chairman of the board and CTO.
Musk’s new role involves overseeing product, software, and sysops. He will also keep his majority stake in the Twitter operator X Corp. The transition from his current position as CEO to Chairman and CTO is expected to happen smoothly.
Elon Musk took over Twitter at the end of October 2022, for a whopping $44 billion. The takeover was a significant development, ending months of back and forth negotiations. The transaction removed Twitter from the stock exchange, which was heading towards an explosive court case.
Musk’s leadership on Twitter has been characterized by ups and downs. Under his leadership, he launched the “Twitter Files”, which locked out journalists, reactivated ex-President Donald Trump’s Twitter account, and created the Twitter Blue subscription model.
Overall, Musk’s tenure as CEO of Twitter has been eventful. His resignation as CEO will bring a new era for Twitter under the leadership of his successor. However, his continued involvement as Chairman and CTO will ensure that he has a significant impact on the company’s future.
