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“My role will transition to being exec chair & CTO, overseeing product, software & sysops,” Musk said in a tweet.
Musk said in November he expected to reduce his time at Twitter and eventually find a new leader to run the social media company.
The move is likely to allay Tesla (NASDAQ:TSLA) investors’ concerns, who have been increasingly worried about the time that Musk is devoting to turning around Twitter.
Tesla Inc shares jumped 2.4% in volume spike on the news.
