Elon Musk he said Thursday that he has found a new CEO for Twitter, or X Corp. as it’s now called. He didn’t name the person, but said he’d start in about six weeks.
Moss, which bought Twitter last fall and has been running it ever sincehe has long insisted that he is not the firm’s permanent CEO.
THE Tesla The billionaire said in a tweet on Thursday that his role will transition to that of Twitter’s executive chairman and chief technology officer.
Musk has said for nearly six months that he plans to find a new CEO for San Francisco-based Twitter. In mid-November, just weeks after buying the social media platform for $44 billion, he told a Delaware court that he doesn’t want to be the CEO of any company.
While testifying, Musk said, “I expect to reduce my time on Twitter and find someone else to handle Twitter over time.”
More than a month later, he tweeted in December: “I’m stepping down 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 resign in a Twitter poll that the billionaire himself created and promised to comply.
In February, he told a conference that he expected to find a CEO for Twitter “probably towards the end of this year.”
Shares of Tesla are up about 2% Thursday after Musk made the announcement. Shareholders of electric machine the company has been concerned about how much of its attention is spent on Twitter.
Last November, he was questioned in court about how he splits his time between Tesla and its other companies, including SpaceX and Twitter. Moss he had to testify in the Delaware Court of Chancery trial on a shareholder’s challenge to his potential $55 billion compensation plan as CEO of the electric car company.
Musk has said he never intended to be CEO of Tesla and also did not want to be CEO of other companies, preferring to consider himself an engineer. Musk also said he expects an organizational restructuring of Twitter to be completed in the next week or so. It’s been almost six months since he said that.
Joking to Twitter followers late last year, Musk expressed pessimism about the prospects for a new CEO, saying that person “must love pain very much” to run a company that “has been on the fast track to failure “.
“Nobody wants the job that can actually keep Twitter alive. There is no successor,” Musk tweeted at the time.
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