Musk says he has found a new CEO for Twitter

Tesla CEO Elon Musk says he's found someone to replace him as the head of Twitter. In a tweet Thursday, Musk wrote in part, excited to announce that I have a new CEO. She will be starting in about six weeks. Musk said he will become executive chairman and chief technology officer of Twitter. The appointment of a successor, even an unnamed one, is likely to calm concerns of Tesla investors, who have been increasingly worried about the time Musk is devoting to turning around Twitter. Tesla's stock fell to a more than two-year low in December, with one top shareholder accusing Musk of abandoning Tesla. The stock has bounced back this year and rose 2% on Thursday.

Musk said in November he expected to reduce his time at Twitter and eventually find a new leader to run the social media company. He has never named any candidates. The billionaire's first two weeks as the new Twitter owner in October were marked by rapid change. He quickly fired Twitter's previous CEO and other senior leaders and then laid off half its staff a month later. In a Twitter poll started by Musk in December, 57.5% of users voted for him to step down as CEO of the social media platform. With Musk responding, I will resign as CEO as soon as I find someone foolish enough to take the job.

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