On the social media site- Twitter, which he had just purchased for $44 billion (£35 billion), Elon Musk made a huge announcement yesterday regarding CEO of Twitter. Despite not naming the organization’s new leader, Mr. Musk stated that “she” would begin working there in six weeks, at which point he would take over as executive chairman and chief technology officer.
He has been under pressure to choose a different leader for the organization so he may concentrate on his other enterprises. In a statement made a year ago in response to Twitter users’ vote for him to resign, he said that “no one wants the job who can actually keep Twitter alive.” Even though Mr. Musk had promised to relinquish control, it was unclear when or even if that would actually happen.
After the news was released, Tesla’s stock increased. Shareholders have already accused Mr. Musk of leaving Tesla after seizing control of Twitter and hurting the reputation of the automaker. “We ultimately view this as a major step forward with Musk finally reading the room that has been around this Twitter nightmare,” some insiders claim.
Regarding the reports, Twitter made no remarks. A source request for comment received no quick response from him. It might be challenging to tell when Twitter’s billionaire owner is being serious. When the sources questioned Mr. Musk last month about who would succeed him as the social media company’s CEO, he responded that he had appointed a dog to the position.
However, if Mr. Musk had hired a woman CEO, she would be among the few women to lead a significant technology business. Less than 10% of the chief executives of tech companies listed among the 500 largest companies in America last year were women.
Although Mr. Musk has mentioned paid Twitter Blue users, the majority of Twitter’s income comes from advertising. Without a doubt, the incoming chief will work to strengthen his or her ties with advertisers and allay their concerns regarding content filtering. Musk, a self-described absolutist of free speech, claims he took control of Twitter to uphold free expression. Advertisers, however, do not want their material to appear next to false or extreme content.
Only after being compelled to do so by a lawsuit did he buy Twitter in October. When he took control, Mr. Musk controversially fired thousands of employees in an effort to reduce expenses at the company, which had trouble turning a profit. Mr. Musk claimed in March that his efforts had paid off and the platform’s financial situations were getting better.