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Twitter Hires New CEO, Elon Musk to Oversee Product and Operations

Elon Musk announced that he will be stepping down as the CEO of Twitter and transitioning to the role of executive chairman and Chief Technology Officer (CTO) of the social media platform. Musk stated that he has hired a new CEO for X Corp, the parent company of Twitter, who will likely take over from Musk in late June or early July. Musk’s new role will involve overseeing Twitter’s product, software, and system operations.

Since taking over Twitter in October 2022 following a $44 billion acquisition, Musk has made a number of controversial policy changes, including phasing out the platform’s verification system, briefly changing Twitter’s logo to the Dogecoin cryptocurrency, and introducing revenue sharing with users. Musk also fired former CEO Parag Agrawal, who had replaced Jack Dorsey, one of Twitter’s co-founders.

The announcement of Musk’s impending transition has sparked speculation about the identity of Twitter’s new CEO. Some have suggested that it could be former Facebook COO Sheryl Sandberg, but neither Musk nor Twitter have confirmed the new CEO’s identity.

While Twitter is not a cryptocurrency company, the platform has become a key site for cryptocurrency discussions and announcements. Moreover, decisions related to Musk and Twitter often generate significant attention from the public.

In April 2023, Twitter temporarily changed its logo to the Dogecoin cryptocurrency, which is strongly associated with Musk. Additionally, according to a Financial Times report, Twitter is developing a cryptocurrency-enabled payments platform.

Musk’s transition to executive chairman and CTO of Twitter suggests that he will continue to play a significant role in shaping the future of the platform, even as a new CEO takes over day-to-day operations. As Twitter continues to evolve, its relationship with cryptocurrency and Musk’s role in the company will likely continue to draw attention from the public and the media.

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