Elon Musk Has Finally Hired A CEO For Twitter

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Elon Musk just made an announcement that can only be described as one of the most-anticipated ones for this year.

New Twitter CEO to join in six weeks

On Thursday, the billionaire confirmed in a tweet that he has finally hired a new CEO for Twitter Inc (TWTR) – the social network he bought for about $44 billion last year.

Excited to announce that I’ve hired a new CEO for X/Twitter. She will be starting in ~6 weeks.

Musk is yet to name the mystery woman, though.

It was about a month ago that he rebranded Twitter Inc as X Corp, now incorporated in Nevada. The platform has taken a hit to its advertising business under his leadership but the billionaire remains committed to eventually turning it into an “everything app” called X.

Tesla stock is welcoming the announcement

In his post, Musk also confirmed that he will continue as the executive chairman and will take on a more technical role at Twitter.

My role will transition to being exec chair & CTO, overseeing product, software & sysops.

Tesla (TSLA) stock is pushing to the upside following this announcement. That’s primarily because investors of the EV company have been concerned for the longest time that his role at Twitter was a massive distraction for Elon Musk.

Wall Street currently has a consensus “overweight” rating on shares of the Nasdaq-listed firm. The price of Dogecoin also ticked up a little today following his tweet.

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