Twitter CEO Elon Musk announced on Thursday that he has found a new general manager of the social media platform, but did not name the person who will replace him, Reuters reported.

“Happy to announce that I have a new CEO at X/Twitter. It will start (working) in about six weeks,” Musk wrote on Twitter.

In the same post, Musk says his role will now be “executive president and CTO, overseeing products, software and sysops.”

Tesla shares rose 2.4% after the announcement.

Elon Musk, CEO of three large companies

Last month, a group of major Tesla investors, including pension fund managers and major financial institutions, called on the company’s board to take action against CEO Elon Musk over concerns he was being distracted by the company’s other problems.

In addition to Tesla and SpaceX, his aerospace company, Musk also became CEO of Twitter last October, taking the post after buying the social media platform and firing its management.

Faced with a wave of criticism over his actions on Twitter since becoming owner and CEO, Musk asked his more than 136 million Twitter followers in December if he should step down as CEO.

He remains in office to this day, despite poll results pointing to his resignation and his previous promises to respect the fans’ decision, whatever it may be.

The letter comes at a time when Tesla is facing several major challenges in the market, with competition intensifying, demand slowing and the US economy raising concerns about a possible recession.

“Without a fully engaged CEO and board prepared to provide the appropriate oversight, we are concerned that Tesla will not be prepared to effectively navigate the increasingly competitive EV sales environment, the changing global regulatory environment, changing consumer preferences, supply chain challenges and expectations investor,” the letter reads further.

In addition to the 3 companies he runs as CEO, Musk is also the founder of the neuroscience research company Neuralink, regularly expressing interest in its developments.