Musk hires new Twitter CEO to start role in roughly 6 weeks
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Elon Musk is finally ready to let go of the CEO role at Twitter as he announced the appointment of a new CEO at the company. Musk will take on the role of the CTO and oversee product, software, and sysops, he said in a tweet.
Musk, who is also the CEO of other companies such as Tesla and SpaceX, has been under pressure to dedicate more time to these companies. The Tesla stock price dropped significantly after Musk took over Twitter in a $44 billion purchase last year.
Musk had also asked his followers if he should step down in a Twitter poll. When 57 percent of the respondents said yes, Musk deferred the decision until he found "someone foolish enough to take the job". It looks like Musk's search has come to an end.
The foolish one to take the job
Musk hasn't announced the name of the new appointee, and unless one wants a poop emoji as a response, there is no point in asking the Twitter press office for comments. So, Musk's tweet is the only source of information available from which one can only know that Twitter's new boss is a woman.
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.
This led to speculation about the post being offered to former Yahoo CEO Marissa Mayer, former YouTube CEO Susan Wojcicki, and Shivon Zilis, an executive at Musk's biotech firm, Neuralink.
According to the Wall Street Journal, Linda Yaccarino, the chairman of global advertising and partnerships at NBC Universal (NBCU), is set to get the job. Yaccarino has spent over a decade at NBCU and helped the organization's advertising and sales transition to a digital future, added Reuters.
When Musk took over Twitter, advertising revenue plummeted, which he tried to counter by pushing subscriptions to Twitter Blue. Although it is bringing in revenues, the service is not a massive hit, and Musk has likely realized the need to warm up to advertisers once again.
Yaccarino fits the job requirement perfectly and is a respected figure in the advertising circles who can drive up advertising revenues at Twitter as it transitions to more than a social media platform into an everything app, most likely called X.
According to The Verge, Musk has not revealed her name as NBCU's annual advertising presentation is coming up on Monday, where Yaccarino is crucial.
Now, we need to wait six weeks to find out if the rumor is true. Tesla investors are already breathing sighs of relief.
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