Elon Musk, the Chief Executive Officer of Twitter, has said that he will step down from his position within the next four to six weeks after finding a suitable replacement. This decision would put an end to a contentious tenure that began when Musk led the purchase of the social media site in 2022.
Musk announced in a tweet that he had chosen a new female CEO for Twitter and that once she begins her duties, he will assume the responsibilities of executive chair and chief technology officer, with responsibility for the company’s product, software, and system operations.
The New York Times said that Musk was in early talks about the post with Linda Yaccarino, who is the chair of global advertising and partnerships at NBCUniversal Media. Musk did not divulge the identity of the incoming CEO, but he did not reveal who would be taking over as CEO.
Before starting work at NBCUniversal in 2011, Yaccarino was a Turner Broadcasting employee.
Since Musk acquired Twitter for $44 billion, the company has been undergoing enormous layoffs as part of a plan to turn the company around, as it has been having trouble turning a profit. Musk has been in charge of overseeing these layoffs.