Elon Musk announces new CEO for Twitter’s disrupted platform

2023-05-11 23:52:00

Elon Musk said on Twitter Thursday that he had hired a general manager to replace him at the head of the platform. He said he would keep control of the American social network, which he has disrupted for the past six months.

“Pleased to announce that I have hired a new CEO for X/Twitter. She will start in regarding six weeks,” tweeted the billionaire, who bought the company in late October and renamed it “X Corp. ” last month. “I will become executive chairman of the board and chief technology officer, to oversee products, software and operations,” he added.

The boss of Tesla and SpaceX had made a survey in December to ask Twitter users whether or not he should leave the direction of the platform. Some 17 million of them had spoken, including 57% in favor of his departure.

Several waves of layoffs

After procrastinating, Elon Musk tweeted that he planned to step down as soon as he “found someone crazy enough” to succeed him. The entrepreneur has transformed the Californian group, with several waves of layoffs, which have reduced its teams to the bare minimum.

It let back controversial figures once banned from the network for breaking its rules and launched a paid subscription for services that were previously free. These chaotic changes and its various provocations have scared away many advertisers, on whom the platform’s business model depends.

The San Francisco company, which generates most of its revenue from , is set to earn less than $3 billion in 2023, compared to $4.14 billion in 2022, or 28% less, according to Insider Intelligence.

“The biggest problem is that advertisers don’t trust Musk,” said analyst Jasmine Enberg, quoted in a statement from this research firm in April.

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