Elon Musk found his replacement as Twitter CEO. The founder, CEO and chief engineer of SpaceX; angel investor, CEO and product architect of Tesla, Inc. and owner and CEO of Twitter announced the news on the social media platform.
Musk bought the Twitter last year. After the Twitter users voted him to step down as the social media platform CEO in an online poll, he announced that he would become executive chairman and chief technology officer.
“I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software & servers teams,” musk wrote on his Twitter account.
Friday, 12th May 2023, Musk announced in a tweet that former NBCUniversal advertising chief Linda Yaccarino will become Twitter’s new CEO.
“I am excited to welcome Linda Yaccarino as the new CEO of Twitter!” Musk said. “@LindaYacc will focus primarily on business operations, while I focus on product design & new technology.”
“I think (Yaccarino) has climbed every mountain she could at NBCU and did it impeccably well. And there’s no greater challenge than restoring order at Twitter,” he said.
Newly appointed Twitter CEO Linda Yaccarino said in a tweet that she’s been inspired by Musk’s vkision to create brighter future and that she is excited to work with him to transform the business.
“I’ve long been inspired by [Musk’s] vision to create a brighter future. I’m excited to help bring this vision to Twitter and transform this business together,” Yaccarino tweeted.
Twitter has seen a massive drop in revenue after advertisers have left the platform. In an interview with BBC discussing Twitter’s finances, Musk said the company is now “roughly breaking even,” as most of its advertisers have returned. He also said that cutting the workforce from just under 8,000 at the time he bought the firm to about 1,500 had not been easy. He admitted he did not fire everybody in person, saying, “It’s not possible to talk with that many people face to face.”
While Musk said Yaccarino would help build an “everything app”, which he has previously said could offer a variety of services such as peer-to-peer payments, his selection of an advertising veteran signalled that digital ads would continue to be a core focus of the business.
Musk, who is also the CEO product architect of Tesla, Inc. a electric vehicle maker company, said on Friday that bringing Yaccarino on as Twitter’s new CEO will help him focus more time to Tesla after its shares were down by 1.3 % .