The billionaire will remain executive chairman of the board and chief technology officer of his company.
By Le Figaro with AFP
Posted update
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Elon Musk tweeted on Thursday that he had hired a new chief executive to replace him at the helm of the platform, but said he would remain executive chairman of the board and chief technology officer of his company. “Glad to announce that I have hired a new General Manager for X/Twitter. She will start in about 6 weeks!“tweeted the billionaire, who bought the company at the end of 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 poll 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. After procrastinating, Elon Musk had tweeted that he planned to step down as soon as he had “found someone crazy enoughto succeed him. The entrepreneur has transformed the Californian group, with several waves of layoffs that have reduced his 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.
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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 advertising, 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“Summarized analyst Jasmine Enberg, quoted in a press release from this research firm in April.