Is Linda Yaccarino new CEO of Twitter?
Excited to announce that I've hired a new CEO for X/Twitter. She will be starting in ~6 weeks, says Elon Musk
May 12, 2023
After announcing that he is stepping down as CEO of Twitter, Elon Musk is reported to be in talks with Linda Yaccarino, NBCUniversal's head of advertising for the new CEO of the social media giant, Financial Times reported citing sources.
Elon Musk has been the CEO of Twitter since October last year after buying the platform for $44 billion.
Without mentioning the new boss of Twitter, Musk wrote late Thursday: "Excited to announce that I've hired a new CEO for X/Twitter. She will be starting in ~6 weeks!"
He added that he would move to be executive chair and chief technology officer, "overseeing product, software, and sysops [systems operations]".
The reports first appeared on Wall Street Journal which said she was in discussions for Twitter's top job.
Yaccarino has been associated with NBCUniversal for nearly 12 years her LinkedIn page stated.
According to the reports at the time when Twitter was taken over by Musk, she said she "wouldn't bet against" the billionaire and that people should "give the guy a minute", according to reports at the time.
In a recent conference in Miami, Musk, and Yaccasrio delivered the keynote address at "Twitter 2.0: From Conversations to Partnerships".
The announcement comes as the shareholders of Tesla stressed Musk to shift his focus on the company which saw its shares nosediving to 30% since last year.
Tesla shares climbed 2% on the announcement of the new Twitter chief.
FT also reported that Twitter investors and bankers have also been keen for Musk to select new management as soon as possible.
In December last year, the CEO of Tesla and SpaceX said he would quit as Twitter’s CEO after finding someone “foolish enough to take the job.” He also initiated a poll in which the majority suggested he step down.
His tenure as CEO of Twitter was a bumpy ride for its users in which he reduced its headcount by about 90% and relaxed content moderation.
Due to certain controversial decisions, several advertisers pulled out of Twitter.
Musk in March said Twitter's finances were improving following his cost-cutting efforts, to the point that the company could return to posting positive cash flow next quarter. He also announced several new features in recent weeks, including encrypted messaging.
