The billionaire has been under pressure to name someone else to lead the company and focus on his other firms.
He announced the plans on the social media platform, which he bought last year for $44bn.
Mr Musk did not name the site's new leader but said "she" would start in six weeks at which point he would become executive chairman and chief technology officer. Mr Musk has been under pressure to name someone else to lead the company and focus on his other firms.
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