Musk says has found new CEO for Twitter

Musk said in November he expected to reduce his time at Twitter and eventually find a new leader to run the social media company. The move is likely to allay Tesla investors' concerns, who have been increasingly worried about the time that Musk is devoting to turning around Twitter.

Twitter CEO Elon Musk said on Thursday that he has found a new chief executive for the social media platform and that she will be starting in about 6 weeks.

"My role will transition to being exec chair & CTO, overseeing product, software & sysops," Musk said in a tweet. Musk said in November he expected to reduce his time at Twitter and eventually find a new leader to run the social media company.

The move is likely to allay Tesla investors' concerns, who have been increasingly worried about the time that Musk is devoting to turning around Twitter. Tesla Inc shares jumped 2.4% in volume spike on the news.

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