• Elon Musk revealed that he has already chosen his successor as Twitter CEO
• The Tesla CEO has not revealed the identity of the social media company's next head
• Musk added that he would then transition to a role as executive chairman and chief technology officer for Twitter

On Thursday, Billionaire entrepreneur Elon Musk tweeted that he has already chosen the person who will become the next Twitter CEO to replace him in the next few weeks.

While the Tesla CEO said he had already picked his successor, he publicly disclosed the individual's identity. Musk added that he would soon transition to a role as executive chairman and chief technology officer of the social media company, where he will prioritize "overseeing product."

Elon Musk Chooses Next Twitter CEO

Musk's latest announcement comes a few months after he promised to step down as the head of the social media company as soon as he found someone "foolish enough to take the job," according to ABC News.

The entrepreneur's alleged resignation late last year was decided following a poll he posted. In that post, 57.5% of respondents supported him stepping down from being the head of the company.

The situation comes after Musk acquired Twitter in October of last year and has made several major changes to the company and its platform. He tried to reduce costs by cutting roughly 75% of the company's 7,500-person workforce. The move raised concerns about the social media company's capacity to maintain its platform.

In February, Twitter suffered a user outage for several hours, and an emergency fix was needed to address the issue. The situation prompted an apology from the company to its customers affected by the issue.

The billionaire entrepreneur has been facing widespread criticism for the series of policy changes across Twitter that he spearheaded. The majority of these needed clear justification, according to CNN.

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Facing a Series of Issues

Musk also tried to convince advertisers to rejoin the platform after many parted ways with the company over concerns of hateful conduct, mass layoffs, or skepticism over the company's future.

Similarly, he tried to sell users on a new paid subscription platform that includes the ability to pay for a blue verification check mark, but it has yet to be received well. His focus on Twitter has also caused concern that he needs to be able to manage the electric vehicle manufacturing company well.

At the time that he was firing employees, Musk defended his decision by saying that the company was on the verge of bankruptcy if nothing was done. In April, he said this was not a "caring, uncaring situation" but noted that if the entire company fell out, it would bring all employees down.

Musk paid $44 billion to acquire the social media company and has recently announced new features, including voice, video calls, and encrypted direct messages for the platform's customers, said Fox Business.

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