Elon Musk is expected to step into the position of temporary CEO for Twitter once his $44 billion deal to buy the social network is completed, reported CNBC’s David Faber on Thursday, citing unnamed sources. He’ll reportedly lead the company for a “few months.”
While raising funds for his takeover bid, Musk told banks he has a new CEO lined up for Twitter, according to Reuters, which didn’t report who would take on the role. Parag Agrawal, who took over from co-founder Jack Dorsey in November, is expected to stay as CEO until the sale is completed.
Twitter shareholders still need to approve the deal, which isn’t expected to close for about six months.
Twitter didn’t immediately respond to a request for comment.
More to come.