Elon Musk appoints Linda Yaccarino as new Twitter CEO as he steps down
A while ago, Elon Musk announced that he would step down as Twitter CEO if he found someone foolish enough to take the job. Well, it appears he found one. In a tweet last week, Musk announced that he had found a CEO for the company and that Linda Yaccarino has been appointed the new Twitter CEO.
"Excited to announce that I've hired a new CEO for X/Twitter. She will be starting in ~6 weeks!," Musk wrote. Musk didn’t reveal the name of his replacement immediately leaving people to guess who the mystery woman was.
It didn’t take long for their question to be answered. In another tweet, the billionaire announced that Linda Yaccarino, former head of advertising at NBCUniversal would be taking charge of the company. Musk said that she would play a key role in transitioning the company from Twitter as we know it to X the everything app.
"Looking forward to working with Linda to transform this platform into X, the everything app," he tweeted. Musk’s vision is to turn Twitter into a platform where users can meet all their online needs including chatting with friends and family, and shopping.
The CEO has already introduced an end-to-end encrypted communication channel on the platform that has been met with mixed reviews.
With the appointment of a new CEO, Musk says he can now transition to overseeing product development.
“My role will transition to being exec chair & CTO, overseeing product, software & sysops,” he wrote. The tech entrepreneur can now also put more focus on his other ventures – Tesla and Space X.
Tesla prices have risen by about 2.1% since Musk’s announcement as the move settled concerns among the electric vehicle company investors that their CEO was devoting too much time to his new venture.
Ever since Musk’s acquisition of Twitter for $44 billion, the company has been subject to a lot of controversy and has struggled to generate revenue. However, it has also reached new milestones in terms of daily usage and new user sign-up.
Now what remains to be seen is whether Musk can realize his dreams for the company while turning it into a profitable venture.