Elon Musk. (Photo: EPA-EFE / Carina Johansen) "My role will transition to being exec chair & CTO, overseeing product, software & sysops," Musk said in a tweet.
Musk said in November he expected to reduce his time at Twitter and eventually find a new leader to run the social media company.
The move is likely to allay Tesla investors' concerns, who have been increasingly worried about the time that Musk is devoting to turning around Twitter.
Tesla shares jumped 2.4% on the news.
(Reporting by Juby Babu and Chavi Mehta in Bengaluru; Editing by Shounak Dasgupta.)