Female CEO Named, Elon Musk Leaves Twitter

Elon Musk won't be the chief executive of Twitter anymore. A woman will take the reins.

On Thursday, Mr Musk announced that he's found a new CEO for the social media platform. The new CEO will start in about six weeks.

He tweeted that he will become exec chair & CTO. He will oversee product, software & sysops.

He didn't mention who it was. He tweeted, "just interviewed a candidate with super hard tech background." The candidate is being considered for the role of AI team leader. The AI team is working on Tesla's autopilot software. The autopilot software is a key component in Tesla's self-driving car ambitions. We will have to wait and see who the mystery candidate is.

Tesla investors are worried about Mr. Musk's time spent on Twitter. This move may ease their concerns.

Shares of Tesla Inc rose 2.4% with high trading activity after the news.

Mr Musk said he'll spend less time on Twitter. He wants to find a new leader for the company. He hasn't said who might take the role.

For about six months, Mr. Musk has been talking about finding a new leader for Twitter in San Francisco.

In November, soon after buying a social media platform for $44 billion, he said in court that he doesn't want to be a CEO.

In his testimony, Musk said he plans to spend less time on Twitter. He hopes to find someone else to manage the platform.

Over a month later, he tweeted about resigning as CEO. He said he will do it once he finds someone willing to take the job.

Many Twitter users asked the billionaire to step down. He made a poll about it. He promised to follow the results. Now, he has pledged to step down.

He said in February that he would probably find a CEO for Twitter by the end of the year at a conference.

The new Twitter owner made swift changes during the first two weeks. He fired the previous CEO and other senior leaders. In November, he cut half of the staff through lay-offs. The billionaire was in charge during this time.