On May 12th, 2023, Elon Musk, the CEO of SpaceX and Tesla, announced on Twitter that he had found a new chief executive officer (CEO) for Twitter. However, he did not reveal the name of the person he had hired.
According to the Wall Street Journal, Linda Yaccarino, an executive at Comcast NBCUniversal, was in talks for the job. It is not yet clear whether she is the person Musk has chosen.
Musk’s tweet stated that the new CEO would start in approximately six weeks, suggesting that the transition of power at Twitter will happen soon. This announcement has generated significant buzz and speculation about the future of Twitter and what changes the new CEO may bring to the platform.
Excited to announce that I’ve hired a new CEO for X/Twitter. She will be starting in ~6 weeks!— Elon Musk (@elonmusk) May 11, 2023
My role will transition to being exec chair & CTO, overseeing product, software & sysops.
Elon Musk, the current CEO of Twitter, has announced that he will be transitioning to the role of chief technology officer (CTO) of the social media platform in the coming weeks.
Musk, who acquired Twitter for $44 billion in October, had previously stated that he would step down as CEO once he found a suitable replacement, and that he would instead focus on running Twitter’s software and servers teams.
This move by Musk is significant as it signals a shift in his responsibilities at Twitter and suggests that he may be looking to take a more hands-on approach to the technical aspects of the platform.
It is unclear who Musk has selected as the new CEO of Twitter, but his statement that the transition will happen within the next few weeks indicates that an announcement may be forthcoming.
This news has generated considerable interest among investors and Twitter users alike, as they speculate about what changes the new leadership will bring to the platform.
According to the Wall Street Journal, Linda Yaccarino, the top advertising sales executive at NBCUniversal, is in talks for the top post at Twitter after Elon Musk announced he had found a new CEO for the company.
Reuters also reported that Yaccarino could be Musk’s choice to lead Twitter, citing a Silicon Valley executive and a former Hollywood executive who spoke anonymously.
Yaccarino recently interviewed Musk at an advertising conference in Miami, and her potential departure from NBCUniversal would be another significant blow to the company, which saw its CEO, Jeff Shell, resign last month after acknowledging an inappropriate relationship with a colleague.
However, Yaccarino has not commented on the speculation, and an NBCUniversal spokesperson said she was currently occupied with back-to-back rehearsals for an upcoming presentation for advertisers.
Musk’s announcement on Twitter generated significant buzz and speculation among tech and media insiders, with Blind, an anonymous messaging app for tech employees, also abuzz with rumors. Previously, Musk had not named any prospective candidates, leaving the public to speculate about who would take over the top post at the social media platform.
The potential appointment of Yaccarino, who has a background in advertising and media, suggests that Musk may be looking to prioritize monetization and advertising revenue at Twitter.
The platform has struggled to grow its user base and revenue streams in recent years, and Musk has been critical of Twitter in the past. As such, the appointment of a new CEO is expected to bring significant changes to the company and its operations.
Following Elon Musk’s announcement that he had found a new CEO for Twitter, there was speculation among Twitter employees on Blind, an anonymous messaging app for tech employees, about who the new CEO could be. According to one staffer, former Yahoo CEO Marissa Mayer was suggested as a potential candidate.
Others mentioned included former YouTube CEO Susan Wojcicki, a top executive at Musk’s Neuralink, Shivon Zilis, and top female executives from Musk’s other companies, such as SpaceX President Gwynne Shotwell and Tesla Inc Chair Robyn Denholm. Jason Benowitz, senior portfolio manager at CI Roosevelt, also suggested that these executives could be named.
However, Musk has not yet revealed the identity of the new CEO, leaving industry insiders and Twitter employees to continue speculating about who the new leader of the social media platform will be.
Elon Musk, CEO of Tesla, has announced that he will be transitioning to the role of Twitter’s executive chair and Chief Technical Officer, overseeing product, software, and sysops. This comes after Musk revealed that he has found a new CEO for Twitter, although he did not disclose the name of the appointee.
Musk’s announcement on Thursday came just 15 minutes before the close of Wall Street, and Tesla shares closed 2% higher, with shares rising by a further 1.6% in after-hours trading.
Musk’s decision to step back from Twitter and focus on Tesla has been welcomed by investors, some of whom had criticized him for being too distracted by his Twitter activity. Craig Irwin, an analyst at Roth MKM, said that the move would free Musk from the “boat anchor called Twitter,” allowing him to focus more on creating value at Tesla.
Musk has previously stated his intention to find a new leader for Twitter, and his announcement on Thursday marks the end of a long search process. The identity of the new CEO has not been revealed, but industry insiders and Twitter employees have speculated about potential candidates.
Elon Musk’s tenure as the owner of Twitter has been marked by controversy and change. In a Twitter poll conducted in December, over half of users voted for Musk to step down as CEO of the social media platform.
During his first two weeks in charge of Twitter in October, Musk made several significant changes, including firing the previous CEO, Parag Agrawal, and other senior leaders. He also laid off half of Twitter’s staff in November.
Musk has stated that he took over Twitter to prevent it from becoming an echo chamber for hate and division, and he has positioned himself as a “free speech absolutist.” He has also pledged to “defeat” spam bots on the platform, an issue that has caused friction between Musk and Twitter’s board in the past.
Despite these challenges, Musk has said that Twitter is “roughly breaking even” and has continued to search for a new CEO to lead the platform. The identity of the new CEO has not yet been revealed, leaving industry insiders and Twitter employees to continue speculating about who will take on this critical role.
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