Elon Musk announced on the 11th (local time) that he will step down as CEO of Twitter.
On the same day, Musk stated on his Twitter account, "A new CEO has been appointed for Twitter, and she will start her role in six weeks."
He added that he will only take on the role of Chief Technology Officer (CTO), overseeing product, software, and system operations at Twitter.
The stock price of Tesla, where Musk serves as CEO, rose 2.1% compared to the previous close and ended the regular trading session higher that day. In after-hours trading, Tesla is showing a rise of around 0.5%. Major foreign media reported, "Investors expect Musk to save the time he spent on Twitter and focus more on managing Tesla."
Currently, Musk manages Tesla, the space exploration company SpaceX, and Twitter.
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