Elon Musk Steps Down As Twitter Head, Promises New CEO In Six Weeks

On 11 May 2023, tech visionary and entrepreneur Elon Musk announced that he would step down as the CEO of Twitter. Musk announced in a tweet that he has hired a new CEO for X/Twitter, who will assume the role in approximately six weeks. Musk will transition to the positions of Executive Chair and Chief Technology Officer (CTO), overseeing product development, software, and system operations. This latest announcement came after the Twitter community voted for the "Chief Twit" to step down in December 2022.

Elon Musk is widely renowned for his contributions to Tesla Inc., SpaceX, Neuralink, and several other ventures, but he made headlines after his $43 billion acquisition of Twitter last year. Since taking over as CEO, Musk has wasted no time making his mark on the platform. Notably, he implemented a bold restructuring initiative that dismissed over 80% of Twitter's workforce. This action was met with mixed reactions, as some lauded his decisive action to streamline operations, while others criticized the impact on employees.

During his brief tenure as CEO at Twitter, Musk spearheaded several new features, most controversially the overhaul of the platform's verification system. Specifically, this revamp saw the introduction of an $8 Twitter Blue subscription service, as well as silver and gold ticks for government affiliations and verified companies, respectively. Under Musk's leadership, Twitter also ushered in an improved algorithmic timeline, expanded character limits, and a range of tools to combat harassment and misinformation ("Community Notes").

However, the question of who will succeed Elon Musk as the new CEO of Twitter remains unanswered. As a result, searching for a suitable candidate to fill this critical position will likely attract attention from both within and outside the company. As the transition period unfolds, Twitter users and stakeholders will monitor any hints regarding the platform's new strategic direction. That being said, Musk will likely still play a central role in Twitter's decision-making in the future.