Elon Musk’s Time As Twitter CEO Has Come To An End

Months after assuming his role as Twitter CEO, Elon Musk’s reign is coming to an end. “Excited to announce that I’ve hired a new CEO for X/Twitter. She will be starting in ~6 weeks,” the tech billionaire announced in a tweet on May 11. But while he might be stepping down from his CEO position, Musk plans to remain just as involved in the company’s affairs. “My role will transition to being exec chair & CTO, overseeing product, software & sysops,” he added.

Musk’s latest announcement comes amid concerns from Tesla’s investors, who believed he had been devoting more time to running Twitter. Back in April, a group of aggrieved investors shared their concerns, urging the board of directors to help redirect Musk’s full attention to Tesla. “We each initially added Tesla to our portfolios because we saw Tesla as a true leader in producing products and services essential for our transition to a sustainable and green economy,” the investors wrote in a letter, per CNN. “Over time, however, we have grown increasingly concerned with governance and leadership issues at the company.”

According to Insider, since Musk’s announcement, Tesla’s stocks have climbed more than 2%, hinting that investors are happy about the new development.

More to come…