New York (CNN) – Elon Musk said Thursday that he has named a new CEO to take over Twitter, months after he vowed to step down.
“Excited to announce that I have a new CEO for X/Twitter. Starting in ~6 weeks!” Musk said in a tweet.
Musk said the new CEO will take over Twitter Inc. In the coming weeks, it will change its name to X Corp. He did not name the next CEO.
Musk, who has lived through a chaotic period as Twitter’s chief since buying the company in October, said he would become Twitter’s chief executive and chief technology officer, overseeing product, software and systems operations.
in December, Musk conducted a survey On the platform asking users if he should step down as CEO of Twitter, which ended with a majority of users voting in the affirmative. Musk said he would stick to the poll results, but later backtracked, saying he would hand over the job: “As soon as I find someone stupid enough to take the job!” in february, repeat He plans to find a replacement by the end of the year.
Musk has faced criticism for a series of policy changes at Twitter, which often came without apparent justification and raised concerns about the impact on Twitter users.
also try to impress advertisers to return to the platform, after many of them fled over concerns about hateful behavior on the platform, mass layoffs from Twitter or questions about the company’s future. At the same time, it’s been trying to sell users a new paid subscription platform that includes the ability to pay for a blue checkmark, but it seems to have limited traction so far.
Musk, who runs or is involved in several other companies including Tesla, has faced criticism from shareholders of the electric car company, worried that Twitter will distract him.
Musk recently said that Twitter is now heading to breakeven, after previously saying it was at risk of bankruptcy. Now the company’s new CEO will be tasked with helping turn the ailing company around and helping Musk recover some of the $44 billion spent acquiring the platform.
Even with Musk willing to step down as CEO, he will likely retain significant control over the company’s future direction. After taking over the company in October, Musk removed the C-Suite and dissolved the board of directors, becoming the platform’s CEO and sole director.