NEW YORK (CNN) — Elon Musk said Thursday that he has hired a new CEO to take over Twitter, months after he vowed to step down.
“I am pleased to announce that X/Twitter has a new CEO. It starts in ~6 weeks!”, Musk said in a tweet.
New CEO Twitter Inc. will take over at , which will change its name to X Corp in the coming weeks. Musk said that will change to. He did not name the next CEO.
Musk, who has had a tumultuous reign since Twitter bought the company in October, said he will serve as Twitter’s chief executive and chief technology officer, overseeing product, software and systems operations.
In December, Musk conducted a study Users were asked on stage if he should step down as CEO of Twitter, which ended with a majority of users voting in the affirmative. He said he agreed with the survey results, but later backtracked, saying he would hand over the post: “As soon as I find someone dumb enough to take the job!” In February, reiterated He plans to find a replacement by the end of the year.
Musk has faced criticism for a series of policy changes on Twitter, which often came without clear justification and raised concerns about the impact on Twitter users.
Further Tried to convince Advertisers are coming back to the platform after many have fled because of hateful behavior on the platform, mass layoffs from Twitter, or questions about the company’s future. At the same time, it’s trying to sell users a new paid subscription platform that includes the ability to pay for a blue check mark, but it seems to have had little traction so far.
Musk, who runs or is involved in several companies, including Tesla, has also faced criticism from the electric car company’s shareholders, who worry that Twitter will distract him.
Musk recently said that Twitter is now “trending down,” after previously saying that Twitter was at risk of bankruptcy. Now the company’s new CEO will help turn around the struggling company and help Musk recoup some of the $44 billion spent on platform acquisitions.
Even as Musk prepares to step down as CEO, he will retain significant control over the company’s future direction. After taking over the company in October, Musk removed the C-suite and disbanded the board, becoming the site’s CEO and sole director.