Elon Musk Says He's Stepping Down As Twitter CEO

Twitter CEO Elon Musk announced that he will be stepping down from the position in the coming weeks. Musk said he will transition into a new role as the chief technology officer.

"Excited to announce that I've hired a new CEO for X/Twitter. She will be starting in ~6 weeks!" Musk wrote on Twitter. "My role will transition to being exec chair & CTO, overseeing product, software & sysops."

Musk did not say who he hired to replace him to run the company he purchased in October 2022 for $44 billion.

It has been a tumultuous seven months for Musk as he took the company private and laid off a majority of the company's employees. In addition, he instituted controversial changes to the verification system, allowing people to pay a monthly fee to have a blue check mark next to their name. He also rescinded bans on several high-profile people, including former President Donald Trump.