Elon Musk has stepped down as Twitter CEO and appointed Linda Yaccarino as new boss.
Musk made the announcement via the social media platform saying Yaccarino will focus primarily on business operations.
The billionaire entrepreneur said he will continue serving Twitter company under product design and new technology.
"I am excited to welcome Linda Yaccarino as the new CEO of Twitter. Yaccarino will focus primarily on business operations, while I focus on product design and new technology. Looking forward to working with Linda to transform this platform into X, the everything app," he said.
Yaccarino previously worked as the chairperson of global advertising and partnerships at NBCUniversal.
He has been under pressure to name someone else to lead the company and focus on his other businesses.
Last year, after Twitter users voted for him to step down in an online poll, Musk said, "No one wants the job who can actually keep Twitter alive?"
Although Musk had said he would hand over the reigns, it was by no means clear when or even if it would happen.
Tesla shares rose after the announcement. Musk has previously been accused by shareholders of abandoning Tesla after his Twitter takeover and damaging the car company's brand.
In a previous tweet, Musk said the new CEO would start working in about six weeks.
However, he did not name his new hire at the time.
