Elon Musk, the CEO of Twitter, announced the successful selection of a new chief executive for the social media platform. Musk shared that the new CEO, a woman, is expected to commence her role in approximately six weeks.
"My role will transition to being exec chair & CTO, overseeing product, software & sysops," Musk said in a tweet.
This strategic move aims to address concerns raised by Tesla investors regarding Musk's extensive commitment to Twitter's turnaround efforts.?
In response to this development, Tesla Inc. (TSLA.O) witnessed a significant 2.4% surge in its share price, accompanied by a notable increase in trading volume.
Last month, Twitter underwent a significant transformation by rebranding its corporate name to X Corp. Additionally, the social media giant relocated its headquarters to Nevada, marking a notable shift in its operational base.
Several companies have suspended their paid promotional campaigns due to the rise of offensive speech and hateful rhetoric on the platform, as highlighted by various advocacy groups.
For instance, his statements regarding perceived racial bias in the media against white and Asian individuals have sparked debates and further controversy.
These developments have contributed to a complex landscape for Twitter under Musk's leadership, requiring careful navigation to address concerns related to offensive content, user policies and maintaining a balanced approach to political discourse.
(This is a developing story)
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