According to CNBC writer David Faber, Elon Musk is anticipated to take up the CEO role at Twitter on a temporary basis after his purchase of the firm is completed later this year. According to Faber, Musk disclosed the intentions in presentations to potential takeover funders.
Musk has not publicly stated what would happen to the company’s C-suite once the transaction is completed, and current Twitter CEO Parag Agrawal, who has just been in the role for five months, has been evasive regarding his future prospects.
With Musk’s obligations to Tesla and SpaceX, where he also serves as CEO, major tech observers speculated that he might have to relinquish control of Twitter. That appears to be the case now – but not right away.
Faber, who is reporting the plans, previously broke the news that Jack Dorsey will step down as Twitter’s CEO in November, so he’s definitely well-connected in the Twitter world. Of course, with Musk involved, plans may always change on the fly. Musk was due to join Twitter’s board of directors last month, but backed out, and is now in charge of the entire firm.
Last Monday, Twitter agreed to Musk’s $44 billion buyout bid. Musk announced more than $7 billion in additional capital this morning.
