In a surprising turn of events, Elon Musk revealed on Thursday that he has found a new CEO for Twitter, or X Corp., as it’s now known.
Keeping the suspense alive, Musk refrained from disclosing her name but mentioned that she would assume the position in approximately six weeks.
However, Musk later revealed that the new CEO will be Linda Yaccarino.
I am excited to welcome Linda Yaccarino as the new CEO of Twitter!@LindaYacc will focus primarily on business operations, while I focus on product design & new technology.
Looking forward to working with Linda to transform this platform into X, the everything app. https://t.co/TiSJtTWuky
— Elon Musk (@elonmusk) May 12, 2023
Since Musk acquired Twitter last fall, he has been at the helm but always maintained that he is not the company’s permanent CEO.
In a recent tweet, the Tesla billionaire announced his upcoming role as Twitter’s executive chairman and chief technology officer, indicating a transition from his current position.
During a court proceeding in mid-November, shortly after his $44 billion purchase of the social media platform, Musk expressed his disinterest in being the CEO of any company.
“I expect to reduce my time at Twitter and find somebody else to run Twitter over time.”
Is It Time Elon Musk Got Linda Yaccarino To Run Twitter?
A month later, responding to a Twitter poll Elon Musk created, millions of users implored him to step down.
This prompted the billionaire to declare in December that he would step down as CEO as soon as he found someone “foolish enough” to accept the job.
According to The Hill, Musk revealed he would find a new CEO for Twitter probably towards the year’s end.
Even without knowledge of the replacement’s identity, analysts tracking Twitter’s business responded positively to the news.
Musk’s erratic leadership has adversely affected Twitter’s advertising endeavors, although the billionaire claimed the company is now breaking even.
According to Insider Intelligence analyst Jasmine Enberg, Twitter needs a new CEO to move forward.
“The single biggest problem with Twitter’s ad business was Elon Musk. As he steps back, Twitter can begin to unravel Musk’s brand from the company’s corporate image and attempt to regain trust among advertisers. The success of those efforts will depend on who takes over, but it’s difficult to imagine that the new CEO could be more controversial or damaging to Twitter’s ad business than Musk has been.”
In November, Musk showed a preference for identifying as an engineer rather than a CEO.
The billionaire clarified that he had never intended to be the CEO of Tesla or any other company.
At the time, Elon Musk also anticipated the completion of an organizational restructuring at Twitter within the next week, which, remarkably, has yet to materialize after nearly six months.
Musk’s tenure as Twitter’s head has been marked by chaos, with promises and statements he either reneged on or failed to follow up on.
Elon Musk’s tweet from that time encapsulates the sentiment:
“No one wants the job who can actually keep Twitter alive. There is no successor.”
