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Elon Musk to Step Down as Twitter CEO; Takes CTO Role

• Elon Musk announced that he has found a new leader for Twitter and will shift into a new role as chief technologist.
• Musk bought Twitter for $44B in October 2022 with plans to lead the company for a limited time to complete the organizational overhaul.
• Rumors suggest that NBC Universal executive Linda Yaccarino and former Meta COO Sheryl Sandberg could potentially replace him as the new leader of the microblogging platform.

Elon Musk to Pass on Mantle to New CEO

Twitter Chief Elon Musk announced that he has found a new leader for Twitter and will shift into a new role as chief technologist. He bought Twitter for $44B in October 2022 with plans to lead the company for a limited time to complete the organizational overhaul.

Potential Replacements Named

Reports suggest that NBC Universal executive Linda Yaccarino and former Meta COO Sheryl Sandberg could potentially replace him as the new leader of the microblogging platform. In a tweet on May 11th, Musk said the company’s new CEO will start in about six weeks.

Takeover Aimed at Crypto Integration

The buyout of Twitter was expected to be instrumental for the digital asset industry with integrations of crypto and blockchain features into the social media platform. However, not much has transpired in the last six months since acquisition by Musk’s team. The decision to file for Twitter becoming financial services company did spark speculation of crypto payment integration, but these have yet to materialize thus far.

Musk Takes CTO Role

Musk said his role will transition to being exec chair & CTO, overseeing product, software & sysops at Twitter. This announcement follows his previous statement where he committed himself only until organizational changes were completed at Twitter before electing a permanent replacement from outside sources or within its own ranks.

New CEO Starting Soon

The incoming CEO is likely starting in about six weeks according to Musk’s announcement via tweet on May 11th, although there has been no official confirmation regarding their identity yet or any further details surrounding their appointment or qualifications so far.