Elon Musk wanted to look for a new CEO for Twitter. He has now announced that he will resign soon and that a successor has been found. Is her name Linda Yaccarino?
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“I am excited to announce that I have hired a new CEO for X/Twitter. It will start in 6 weeks.” Twitter owner Elon Musk announced the new personnel with such euphoria – on Twitter, of course. Accordingly, he will hand over the management of the company that he bought in October 2022. In April, Musk renamed the company: X.
Musk has not yet revealed the name of the successor, and yet a name is already circulating. According to the Wall Street Journal, it could be Linda Yaccarino, previously head of global advertising and partnerships at New York-based media group NBCUniversal. Yaccarino is said to have been in negotiations for the CEO post, according to the WSJ, citing insiders.
Musk isn’t completely retiring from Twitter management
Multi-billionaire Musk, who is also CEO of Tesla and SpaceX, further reveals in the post that he by no means wants to completely withdraw from the design of the microblogging service. He will continue to support the future CEO as Executive Chairman. This position is typically held by a former CEO to advise his successor on a successful transition. He will also be involved as CTO, i.e. Technical Director, and will oversee the product and software.
Excited to announce that I’ve hired a new CEO for X/Twitter. She will be starting in ~6 weeks!
My role will transition to being exec chair & CTO, overseeing product, software & sysops.
— Elon Musk (@elonmusk) May 11, 2023
Elon Musk announced in December 2022 that he would step down from the post if “someone foolish enough to do it”. This was preceded by a poll on Twitter as to whether he should remain CEO or not. 57.5 percent of the participating users voted for his resignation.
Elon Musk’s Twitter purchase caused quite a stir in 2022
The purchase of the social network caused a stir last year. Musk became the largest shareholder in April. With 73.5 million shares, he held 9.2 percent of the company. In mid-April, the native South African declared that he wanted to completely take over Twitter for $44 billion. His goal: to make the service a “global platform for free speech”.
In July, however, it was announced that he had canceled the full purchase. The reason he gave was that he had not received enough information about fake and spam accounts on Twitter. After Twitter wanted to take legal action against the aborted purchase, Musk bought the company for $44 billion and thus avoided a contractual penalty. And Musk immediately took radical action: He immediately fired all high-ranking employees.
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