Twitter CEO Elon Musk has said he has found a new chief executive for the social media platform without naming his replacement. “Excited to announce that I’ve a new CEO for X/Twitter. She will be starting in ~6 weeks!” Musk said in a tweet. Musk said he will transition to being “executive chair & CTO, overseeing product, software & sysops”.

Tesla shares jumped 2.4% in volume spike on the news.