Elon Musk Discovers Female Twitter CEO to Lead the Social Media Platform
Elon Musk announced on Thursday that he has ordered a woman as the new CEO of Twitter, or X Corp. as it is now known. Even if he did not give her name, he did say that she would begin in approximately six weeks.
Despite having bought Twitter last fall and being in charge of it ever since Musk has always said that he is not the company's long-term CEO. The Tesla billionaire published his appointment as Twitter's managing chairman and chief technology officer in a tweet on Thursday.
Just a few weeks after purchasing the social networking platform for $44 billion, in the middle of November, he announce in front of a Delaware court that he did not want to lead any corporation.
Musk stated during his proof that "I expect to decrease my time at Twitter and find someone else to run Twitter over time."
In December, more than a month after the initial remark, he declared on Twitter, "I will resign as CEO as soon as I find someone foolish enough to take the job." He was forced to quit by millions of his supporters in a Twitter vote organized and supported by the billionaire himself.
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He stated at a conference in February that he due Twitter, situated in San Francisco, to hire a CEO "probably toward the end of this year."
Analysts who follow Twitter's business were delighted with the announcement, even if they have yet to learn who would take his position. Under Musk's erratic management, Twitter's advertising profit has suffered, but the billionaire alleged to the BBC last month that the firm is now "roughly" breaking even.
Twitter can only go ahead with a new CEO, according to Insider Intelligence analyst Jasmine Enberg. The one element that had the biggest adverse effect on Twitter's advertising business was Elon Musk. Twitter may begin to separate Musk's personal brand from the company's brand as he backs off in an effort to regain sponsors. The success of such initiatives will depend on who succeeds Musk, but it's hard to see how the incoming CEO could be more divisive or harmful to Twitter's ad business.
Following Musk's announcement, Tesla stock raised by about 2% on Thursday. Concerns about how much time he spends on Twitter have been raised by the electric car company's shareholders.
How he dispenses his time between Tesla and his other enterprises, including SpaceX and Twitter, was a question in court in November. Musk was compelled to provide a witness statement in the Delaware Court of Chancery hearing involving a shareholder's challenge to his proposed $55 billion remuneration plan as CEO of the electric vehicle firm.
Musk said that he never planned to lead Tesla and that he also didn't want to lead any other businesses, preferring to think of himself as an engineer. At the time, Musk also predicted that Twitter's governmental restructuring would be finished within a week or so. He said that almost six months ago now.
During his turbulent time in charge of Twitter, Musk made a number of declarations and pledges that he later reneged on or never followed through with. He began his first day dismissing the company’s senior executives, followed by about 80% of its workforce. He has altered the platform's verification process, reduced content control, and reduced measures to avoid the spread of false information.
Musk joked about the probabilities for a new CEO on Twitter late last year, saying the individual "must like pain a lot" to lead a business that "has been in the fast lane to bankruptcy."
On Twitter, nobody is genuinely so engrossed in their work that it keeps them up at night. No backup survive, Musk wrote on Twitter at the time.
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