Musk made the announcement in a tweet on Thursday.
Elon Musk has chosen a new CEO of Twitter and plans to step down from the role within weeks, the billionaire entrepreneur said on Thursday.
Musk did not disclose the identity of the incoming chief executive. He said he plans to transition to a role as executive chairman and chief technology officer, in which he’ll focus on “overseeing product.”
The announcement comes months after Musk pledged in December to step down as the head of Twitter as soon as he found someone “foolish enough to take the job.”
Musk’s tentative resignation late last year followed a Twitter poll posted by Musk in which 57.5% of respondents called on him to stop leading the company.
After acquiring Twitter in October, Musk had made major changes to the company and its platform. In an effort to significantly slash costs, the company has cut roughly 75% of its 7,500-person workforce, raising concerns about Twitter’s capacity to maintain its platform.
This is a developing story. Please check back for updates.
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