Elon Musk to step down as Twitter CEO

Elon Musk on May 11 announced that he has appointed a new CEO for Twitter, or X Corp. as it is now known. Although he did not give her name, he stated she would begin in about six weeks.

Musk has long maintained that he is not the company's long-term CEO despite having purchased Twitter last autumn and operating it since. The Tesla billionaire said in a tweet on Thursday that he will now serve as executive chairman and chief technical officer of Twitter.

In mid-November, just a few weeks after buying the social media platform for $44 billion, he told a Delaware court that he does not want to be the CEO of any company.

While testifying, Musk said, “I expect to reduce my time at Twitter and find somebody else to run Twitter over time.”

More than a month later, he tweeted in December: “I will resign as CEO as soon as I find someone foolish enough to take the job.” The pledge came after millions of Twitter users asked him to step down in a Twitter poll the billionaire himself created and promised to abide by.

It needs mention here that in February, he told a conference he anticipated finding a CEO for San Francisco-based Twitter “probably toward the end of this year”.