Twitter: Elon Musk announces hiring of a new full-time CEO

The Yahoo Finance Live team discusses Elon Musk's announcement that he has hired Twitter's new CEO and what this means for Tesla.

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- Well, Elon Musk is back to tweeting. This time he's got some news to share for the company, he's. Hired a CEO at Twitter. And here's specifically what he tweeted. He said he's "excited to announce that I've hired a new CEO for X/Twitter. She will be starting in six weeks. My role will transition to being ex chair-- executive chair, CTO overseeing product, software."

Um, Shawna, we had kind of expected this. He had sort of signaled that he doesn't want to be a CEO forever. I do think it's interesting that he has said "she." So we're talking about a woman CEO, female CEO. But I'm not going to start by talking about the list of issues that have materialized at Twitter. It's going to be a long show if we did that.

- Yeah, it's going to be a tough job for whoever that "she" is that is taking over here for Elon Musk. I think there was a lot of doubt that, Kiko, whether or not Musk was going to follow through with this before the end of the year if, in fact, he was actually going to name somebody as CEO of the company.

I was also just taking a look at what Tesla was doing after hours. Not a heck of a lot of reaction, but we know that the distraction that Twitter has been for Musk, that has been the threat, or investors have viewed that as a threat to Tesla, here, over the last several months. So it will be interesting to see exactly what this means for Tesla here going forward.

But I'm a bit surprised by it, that it came this quickly. I was expecting this maybe to not be announced until November, December, once we get towards the back half of the year. All right, we're coming up--

- --the Tesla stock move forced his hand, is the question.

- Yeah, yeah. Exactly.