Elon Musk Reveals New CEO for Twitter, Steps Down from Role.

Elon Musk announced on Twitter that he has selected a new CEO for the social media service, Twitter, but did not reveal the executive's identity. Musk will remain involved as the company's executive chair and CTO, overseeing product, software, and sysops. As Twitter's owner, Musk has already made significant changes to the company, including eliminating over 75% of its employees and taking it private. The new CEO will inherit challenges such as a sagging advertising business and debt payments of about $1.5 billion a year from the sale to Musk.