SAN FRANCISCO (KRON) — Elon Musk announced Thursday afternoon he has hired a new CEO for Twitter. He did not identify by name who it will be but confirmed the new CEO will be a woman.

Musk, who bought Twitter for $44 billion last October, says he will step down from the CEO role and transition to being executive chair and Chief Technical Officer (CTO). Musk added he will be “overseeing product, software (and) sysops.”

The new CEO of the San Francisco-based company will start in approximately six weeks.

In April, legacy blue checkmarks for Twitter users were removed. Only users who subscribe and pay for Twitter Blue have blue checkmarks.

Musk recently said owning Twitter is “painful” but needed to be done.

This story will be updated.

The Associated Press contributed to this report.