Twitter owner Elon Musk announced on Thursday he will be stepping down as the social media company”s CEO after having hired a replacement.
“Excited to announce that I”ve hired a new CEO for X/Twitter. She will be starting in ~6 weeks!” Musk tweeted on Thursday.
“My role will transition to being exec chair & CTO, overseeing product, software & sysops.”
“X/Twitter” refers to Musk”s recent announcement that Twitter has merged with his “everything app” known as X.
Musk, who also owns Tesla and Space X, did not name the new CEO. He also did not give any clues as to the identity of the new head of the social media giant other than revealing she is a woman.
The announcement came nearly six months after Musk pledged in December to resign as Twitter”s CEO as soon as he found a replacement who was “foolish enough to take the job.”

Musk bought Twitter in October, promising to reform the platform to make it more friendly to free speech, reinstating many banned accounts, and expanding its subscription services in order to increase non-advertising revenue.
“A new CEO is the only way forward for Twitter,” Insider Intelligence analyst Jasmine Enberg told CTV. “The single biggest problem with Twitter’s ad business was Elon Musk. As he steps back, Twitter can begin to unravel Musk’s personal brand from the company’s corporate image and attempt to regain trust among advertisers. The success of those efforts will depend on who takes over, but it’s difficult to imagine that the new CEO could be more controversial or damaging to Twitter’s ad business than Musk has been.”
Tesla shares increase two percent on Thursday after news broke that Musk was stepping down.