By David Ingram - NBC News
Twitter owner Elon Musk said Thursday he had hired a new CEO for the social network.
Musk made the announcement in a tweet but did not immediately reveal the person's name. He also said he would reduce his day-to-day relationship with the platform, where he is the chief executive and chief technology officer overseeing all product changes.
Musk appeared to offer small hints about the new CEO, saying "she" would start work in about six weeks.
Investors in other of Musk's companies, including Tesla, have expressed concern for months that the tech billionaire was too distracted and neglecting his other responsibilities.
Tesla shares rose 2% immediately after the tweet.
Musk bought Twitter in October last year for $44 billion after a month-long fight with the previous administration over the company's price and financial health.
Elon Musk, chief executive of Tesla and SpaceX, in a January 2023 photo.Bloomberg/Bloomberg via Getty Images
Musk has made substantial changes to the platform in the six months since taking over, firing a vast majority of Twitter employees, reinstating the accounts of users who had been suspended, including former President Donald Trump, and relaxing rules on potentially objectionable materials.
Under Musk, Twitter also eliminated its program for verifying accounts of notable public figures, and instead reserved the white and blue marks for people who subscribe to its paid service.
It was unclear whether the new CEO will make any major changes, but at least it will set a precedent: Twitter has never had a female CEO since its founding in 2006.
Elon Musk plans to install a Tesla factory in Mexico
Feb. 28, 202300:27
Musk will probably now have more time for his other companies. He is the chief executive of automaker Tesla and SpaceX, the rocket and engineering company that last month launched the largest rocket in history as part of a plan to send humans to Mars.
Other tech investors have questioned Musk's wisdom in spending so much time on Twitter, given his other responsibilities.
SpaceX investigates why its huge Starship rocket exploded (even so they qualify the test as successful)
April 20, 202300:28
"Can you think of another prominent person who is wasting their talent on computer programs when they could be working in manufacturing and heavy industry?" asked investor Paul Graham dryly on Twitter last month.
Musk is the second richest person in the world, with a fortune of $168 billion, according to the Bloomberg Billionaires Index.