Elon Musk reveals the discovery of a new CEO for Twitter and shares the announcement on the platform he acquired last year for $44 billion (£35.2 billion).

Although Mr. Musk does not disclose the identity of the new chief executive, he mentions that "she" will assume the role in six weeks. Following her appointment, he will transition to the positions of executive chairman and chief technology officer.

As he faced mounting pressure to appoint a new leader for Twitter, this move allows him to concentrate on his other ventures.

In response to an online poll where Twitter users voted for him to step down, he stated last year, "No one wants the job who can actually keep Twitter alive."

Despite his previous statement about handing over control, the timing and certainty of the transition remained uncertain.

Following the announcement, Tesla's stock witnessed an increase. Previously, Mr. Musk faced allegations from shareholders that his involvement with Twitter after its acquisition had led to neglect of Tesla and negatively impacted the company's brand.

Dan Ives from the investment firm Wedbush Securities remarked, "We ultimately view this as a significant step forward with Musk finally acknowledging the challenges associated with Twitter. Trying to juggle the responsibilities of being CEO at Twitter, Tesla, and SpaceX was an impossible task that required a change."

According to reports from two US media sources, namely The Wall Street Journal and Variety, individuals familiar with the matter disclosed that Linda Yaccarino, the head of advertising at NBCUniversal, was engaged in discussions to assume the role of CEO at Twitter.

Twitter refrained from providing any comments regarding the reports, and there was no immediate response from NBCUniversal to a request for comment from the BBC.

It can be challenging at times to discern when the billionaire and Twitter owner is expressing himself seriously.

In a recent exchange with the BBC, Mr. Musk humorously stated that he had made a dog the leader of Twitter when questioned about the future boss of the platform.

However, if Mr. Musk has indeed appointed a female executive, it would be a notable occurrence as there are relatively few women who have reached top positions in major technology companies.

Last year, women held less than 10% of CEO positions in technology firms among the 500 largest companies in the United States.

While Mr. Musk has discussed the introduction of paid subscribers through Twitter Blue, the primary source of revenue for Twitter remains advertising.

The newly appointed CEO will likely prioritize enhancing relationships with advertisers and addressing their concerns regarding content moderation.

Mr. Musk, who advocates for unfettered free speech, assumed control of Twitter with the aim of safeguarding freedom of expression. However, advertisers are wary of having their content displayed alongside misinformation or extremist material.

He acquired Twitter in October, following a lawsuit that compelled him to proceed with the purchase. Upon assuming leadership, Mr. Musk sparked controversy by dismissing thousands of employees as part of cost-cutting measures for the financially struggling company.

In March, he claimed that these efforts had proven successful, leading to improved financial prospects for the platform.

Furthermore, Mr. Musk informed the BBC last month that the majority of advertisers who had initially abandoned Twitter after the acquisition had returned.