By Starrys Obazei | May 13, 2023.
starrys@ddnewsonline.com
Elon Musk, the billionaire entrepreneur who bought Twitter in October for $44 billion, announced that he is stepping down as the company’s CEO.
Musk said in a tweet that he will be transitioning to a role as executive chairman and chief technology officer, and will still oversee products and software.
Musk’s decision to step down comes after months of turmoil at Twitter. The company has been facing criticisms from users and employees for its handling of moderation, content policy, and the spread of misinformation. Musk has also been criticized for his tweets, which have often been controversial and offensive.
In a statement, Musk said that he is “proud of what we have accomplished in restoring trust in Twitter as a platform for free speech.” He added that he believes the company is “well-positioned for long-term growth and success.”
Musk’s successor as CEO has not yet been named. However, the company said that it is conducting a “thorough and deliberate process” to find the right person for the job.
Musk’s departure from Twitter is a major shakeup for the company. It remains to be seen how the company will fare under new leadership. However, Musk’s legacy on Twitter will be one of controversy and change.