Elon Musk steps down as Twitter CEO, announces successor

Successor CEO decided

Elon Musk, CEO of major SNS Twitter, has announced that a successor CEO has been decided.

He didn’t give his name, only referred to him as “she,” and said a new CEO would start operations within six weeks. After taking office as the new CEO, Mr. Musk will oversee products, software and systems as executive chair (chairman) and CTO (chief technology officer).

Excited to announce that I’ve hired a new CEO for X/Twitter.

My role will transition to being exec chair & CTO, overseeing product, software & sysops.

— Elon Musk (@elonmusk) May 11, 2023

As for the Twitter company, court documents show that Twitter merged with Musk’s X Corporation last month. The “X” in the above tweet refers to the company name.

Last December, Musk conducted a poll on whether he should continue as CEO of Twitter. Based on the results, he explained that he would step down as CEO as soon as his replacement was found.

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.

— Elon Musk (@elonmusk) December 21, 2022

Musk is currently the CEO of companies such as Tesla and SpaceX. The burdensome dual appointment was met with criticism, especially from Tesla shareholders.

connection: Tesla and cryptocurrency-related stocks fall sharply, concerns about recession rise | 21st Financial Tankan

Twitter trends

Musk completed the acquisition of Twitter in October 2022. He has long expressed his desire to make Twitter a “super (universal) app” by installing payment functions and other functions. He commented in October 2022 that he would “accelerate the building of universal app ‘X’ with the acquisition of Twitter.”

Since the acquisition, the company has been working hard to build a versatile app. Twitter’s application has actually continued to change, while criticism has been raised for large-scale restructuring and management methods. Recently, last month, it was announced that it had formed a partnership with the social investment platform “eToro” to expand search functions such as crypto assets (virtual currency).

connection: Partnership with eToro to expand search functions such as Twitter and virtual currency

Even before the Twitter acquisition, Musk has shown a keen interest in cryptocurrencies. He often tweets about cryptocurrencies and has the power to move prices in the market.

connection: Controversial Elon Musk’s virtual currency related tweet summary

Twitter’s new features and services are attracting attention from the cryptocurrency space, as Binance helped buy Twitter. Until now, it has been reported that Twitter may introduce cryptocurrency payments and may issue its own currency, although it is undecided whether it will be a cryptocurrency or not.

connection: Twitter introduces virtual currency payment function = news

connection: Will Twitter continue to develop its own currency “Coin”?

The post Elon Musk steps down as Twitter CEO, announces successor appeared first on Our Bitcoin News.