Twitter will have new CEO in about 6 weeks, Elon Musk tweets

May 11 (UPI) -- Elon Musk announced Thursday that Twitter would have a new CEO in about six weeks, as he moves to an executive chairman role.

In his Tweet making the announcement, Musk declined to name the new CEO, but he said, "She will be starting in ~6 weeks!"

Musk's tweet also said that, in his new role, he will oversee "product, software & sysops."

In February, while speaking to the World Government Summit in Dubai, Musk said he was looking for a new CEO, saying, "I need to stabilize the organization and just make sure it's in a financially healthy place and the product road map is clearly laid out."

In March, an internal memo from Musk was revealed, showing Twitter's valuation had been cut in half from the estimated $44 billion purchase price six months earlier.

Much of that decline has been attributed to Musk's leadership at the social-media company and recent decisions by Musk that have affected user trust.

Musk has controversially labeled some news organizations, including NPR, as "state affiliated." And the British Broadcasting Corporation also raised objections to being labeled as "government-funded media," a label Musk also gave to The Canadian Broadcasting Corporation earlier this year.

Also last month, New York City's Metropolitan Transit Authority, which serves billions of users a year, said that it would no longer use Twitter to broadcast transit updates, calling it unreliable.