Elon Musk resigns from Twitter – hint at the successor

Elon Musk has announced his resignation as CEO of Twitter. A successor has been found and will take over the post in about six weeks, Musk said on Thursday – in a tweet, of course.

The tech billionaire did not initially name a name. As CTO, he wants to take care of more specific business areas such as products and software in the future.

According to a newspaper report, the new woman at the helm of the company could be called Linda Yaccarino. She is currently responsible for the global advertising business of the US media giant NBCUniversal and, according to the “Wall Street Journal”, is in talks to take over the post of head of Twitter, as it was said, citing insiders.

Elon Musk announced months ago that he wanted to step down

Musk had already announced at the end of 2022 that he wanted to give up the top office – but only once the successor had been settled. He had taken over the top post as part of his approximately $ 44 billion purchase of the Internet platform in October last year. Musk had always signaled that this was not a permanent solution. He also heads the electric car maker Tesla and the rocket company SpaceX.

His six months as “Head of Twitter” have been characterized by chaos and controversy. After a series of highly controversial decisions, Musk faced increasing headwinds. His resignation announcement in December followed a self-initiated Twitter poll in which around 57.5 percent of the participants supported his resignation. Musk had previously assured that he would stick to the result of the vote.

Chaos on Twitter since Elon Musk took over

Musk’s takeover of Twitter caused a lot of suspicion from the start. The multi-billionaire justified the purchase as an action to strengthen freedom of speech. However, critics feared a further brutalization of the Internet platform. They worried that the change in ownership would lead to rampant hate speech, disinformation and hate speech.

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So far, Musk has not been able to dispel these concerns. On the contrary: With a wave of layoffs, erratic rule changes and other explosive decisions, he shook the Twitter world and scared off advertising customers – the most important source of income for the online network.

Twitter is worth half what it was when Musk bought it

The $44 billion purchase, which Musk threatened to call off in the meantime and ultimately went through under great legal pressure, has so far also been a major financial failure. In the recent issue of shares to employees, the company value was only half as high as Musk admitted in a BBC interview. At the same time, he claimed in an email to employees that Twitter could one day be worth $250 billion.

The suggestions that the service could become the basis for a super app along the lines of WeChat in China have so far not gone beyond mere speculation. After several waves of layoffs, only around 1,500 of the 8,000 employees were left. And in other respects, too, Musk has changed Twitter a lot. A major upheaval, with uncertain consequences for the platform’s credibility, was the repurposing of the blue icons that once denoted an account properly verified by Twitter. (dpa)

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