Elon Musk to step down as Twitter chief

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Twitter CEO Elon Musk has revealed he will relinquish the role in around six weeks' time having lined up a suitable successor, a move which would draw a line under a controversial tenure since he led an acquisition of the social media site in 2022.

In a tweet, Musk stated he hired a new female CEO for Twitter and, once they start, he will take on the roles of executive chair and CTO, overseeing product, software and system operations.

Musk didn’t disclose the identity of the incoming CEO, but The New York Times reported he was in advanced talks about the role with Linda Yaccarino, chair of global advertising and partnerships at NBCUniversal Media.

Yaccarino joined NBCUniversal in 2011 and was previously with Turner Broadcasting.

Musk has overseen massive layoffs at Twitter since acquiring the company for $44 billion, part of a turnaround plan for the company, which has struggled to turn a profit.

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