Elon Musk, who bought Twitter in October 2021, announced on Thursday that he had found a new CEO for the company, which is now known as X Corp.
Musk, who had previously pledged to step down as Twitter’s CEO, tweeted about the new CEO’s appointment without divulging their identity.
Elon Musk To Seize Managing Twitter
However, according to sources close to the matter, Linda Yaccarino, the head of advertising at NBCUniversal, was in negotiations for the position.
Musk will assume the positions of executive chair and chief technology officer, supervising Twitter’s entire software and hardware. Musk conducted a Twitter poll in December 2021 asking users if he should abdicate as the company’s CEO, and the majority concurred he should.
Elon Musk initially stated that he would respect the poll’s results, but later stated that he would resign “as soon as I find someone foolish enough to take the job!” In February, he reiterated his desire to occupy the position by the end of the year.
Musk has been criticized for a number of policy changes on Twitter that lacked justification and raised concerns about their potential negative effects on the platform’s user base.
In addition, he has been attempting to regain advertisers who abandoned the platform out of safety concerns following incidents of hate speech and Twitter cutbacks. Musk’s new premium subscription platform, which provides a blue verification symbol in exchange for a fee, has yet to attract users.
Following Elon Musk’s announcement that he would resign as Twitter’s chief executive officer, Tesla’s stock rose approximately 2% on Thursday. AP reports that many investors in the electric vehicle company are concerned that Musk spends too much time on social media.
Musk was required to defend his time allocation between Tesla, SpaceX, and Twitter during a court hearing in November of last year. A shareholder questioned the CEO’s $55 billion compensation proposal. Musk was required to testify at the Court of Chancery in Delaware, where the trial took place.
Musk testified that he had never intended to become the CEO of Tesla or any other company. Additionally, he stated that Twitter’s internal reorganization would be concluded within a week. Almost six months have passed since he made that statement.
Musk’s tenure as Twitter’s leader has been marked by numerous statements and pledges that he has since retracted or abandoned. On his first day in command, he fired approximately 80 percent of the company’s most senior executives. He has reduced moderator resources, removed several barriers to the dissemination of fraudulent information, and disrupted the verification system of the platform.
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Who Is Twitter’s New CEO?
Linda Yaccarino, an accomplished executive with nearly ten years of experience at NBCUniversal, was instrumental in the successful launch of the ad-supported Peacock streaming service.
As part of her preparations to become the new CEO of Twitter, now known as X Corp., Yaccarino will shortly give a presentation to advertisers.
The prospective appointment of Yaccarino is a significant development in Elon Musk’s efforts to revamp Twitter.
Elon Musk has repeatedly stated that he will resign as CEO once he identifies a qualified successor.