Elon Musk, also known as the “Chief Twit” of Twitter, has announced his departure from his role as CEO. In a tweet, Musk revealed that he has found a replacement and will be stepping down in six weeks, with Linda Yaccarino taking over as CEO of the social media company. Musk will remain as part of the management team, assuming the roles of executive chair and chief technology officer.
This news may come as a surprise to some, but Musk’s previous tweets hinted that he did not intend to stay as CEO for long. In December of last year, he asked Twitter users whether he should remain as CEO, with 57.5% voting in favor of him staying. However, Musk has kept his promise to step down and allow someone else to take over.
I am excited to welcome Linda Yaccarino as the new CEO of Twitter!@LindaYacc will focus primarily on business operations, while I focus on product design & new technology.
Looking forward to working with Linda to transform this platform into X, the everything app. https://t.co/TiSJtTWuky
— Elon Musk (@elonmusk) May 12, 2023
Musk’s other commitments, such as his roles at Tesla and SpaceX, may have also played a part in his decision to relinquish his position at Twitter. Tesla investors felt that he was spread too thin and called for him to step down in December, as Tesla’s stock price fell.
Although Musk is stepping down as CEO, he will still have control over Twitter’s policies. He has always been a vocal figure on the platform and is known for his controversial tweets. As executive chair and chief technology officer, Musk will oversee product design and new technology, while Yaccarino will focus on business operations.
It’s clear that Musk’s departure from Twitter is not the end of his involvement with the company. He has expressed interest in developing new features for the platform, including the ability to edit tweets, as well as a decentralized version of Twitter.
Overall, Musk’s departure from Twitter as CEO is a significant move, and it will be interesting to see how Yaccarino handles her new role. With Musk still involved in the company, we can expect Twitter to continue to be a hub of controversy and innovation.