Why is Musk stepping down
In a tweet, Musk said that “Excited to announce that I’ve a new CEO for X/Twitter.” He also confirmed that the new CEO will take over soon. “She will be starting in ~6 weeks!,” Musk said in the tweet.
On his role going forward, Musk said this his “role will transition to being exec chair & CTO, overseeing product, software & sysops.”
Earlier this year Musk had said that he wanted to stabilise the organisation first and then appoint a new CEO. ““I think I need to stabilise the organisation and just make sure it’s in a financially healthy place and that the product roadmap is clearly laid out,” he said at a conference in Dubai.
He had also hinted that Twitter would be in a stable position to be run by someone else. “I’m guessing probably towards the end of this year should be good timing to find someone else to run the company because I think it should be in a stable position around the end of this year.”
In between, there was a time when he jokingly said that his dog is the CEO of Twitter. He had also said that “I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams.”
In a tongue-in-cheek comment made in a Twitter Spaces conversation with BBC, Musk said that he had indeed stepped down as CEO of Twitter. “I did stand down,” he said. “I keep telling you I’m not the CEO of Twitter, my dog is the CEO of Twitter.”
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