Elon Musk claims that he has chosen the new Twitter CEO and that he will step down as CEO.
Although he did not name the new CEO, he did say that she is a woman.
“I’m happy to announce that X/Twitter has a new CEO. She will begin in around six weeks!,” Musk wrote on Twitter on Thursday.
The term “X” alludes to both the newly created legal entity that encompasses Twitter and Musk’s plans to turn Twitter into a “super app.”
The Wall Street Journal claimed that Linda Yaccarino, the head of advertising at NBCUniversal, is in discussions to take over as CEO of Twitter, citing sources with knowledge of the matter. Yaccarino, a previous Trump appointee, has a solid reputation in the advertising industry.
Musk has been in charge of huge layoffs, changes to content moderation, and changes to the blue-check verification system since he purchased the social networking site six months ago.
At a conference that MMA Global, a trade association for digital marketers, organised last month, Yaccarino conducted an on-stage interview with Musk.
Running Twitter, according to Musk, “is a train wreck sometimes.”
In November, Yaccarino stated she wouldn’t wager against Musk in a speech at an AdAge convention. You must give the man some time, she replied.
Musk is under further pressure to focus on Tesla once more. He posted in December that he was seeking for someone to succeed him at Twitter.
“As soon as I find someone stupid enough to take the job, I’ll step down as CEO!” Musk tweeted something.
Musk will continue to be in charge even after his replacement assumes control. Musk announced his move to executive chairman and chief technology officer on Thursday. He will continue to be in charge of products and software.
Musk made it clear early on that he didn’t intend to continue leading Twitter and that his original goal had been to cut back on his involvement.
During a trial for his salary at Tesla in November, Musk stated, “There is an initial burst of activity needed post acquisition to reorganise the company.” Over time, I’d find a different person to run Twitter.
Musk’s announcement led to an increase in Tesla’s stock price. On Thursday, shares rose 2.1% to close at $172.08 and kept rising in after-hours trading.
The new CEO’s appointment, according to Wedbush Securities analyst Daniel Ives, is “a positive development for Tesla as well as SpaceX with Musk needing to spend more and more time on these golden child platforms rather than Twitter.”