Musk, who paid $44 billion for Twitter last October, had previously stated that he would only hold the position for a limited period of time to complete the organizational redesign. He thought that the company needs to prosper. On this prospect, he announced finding and introducing a new face of Twitter’s CEO to be presented to the social world in just 6 weeks from now, as per NDTV news.
According to sources from the Wall Street Journal, there are currently discussions about NBCUniversal Executive Linda Yaccarino becoming Twitter’s CEO after owner Elon Musk said that he had chosen a new CEO for his social network. She is about to transition into a new position as chief technologist. In a Thursday tweet, Musk announced that the company’s new CEO will start in about 6 weeks, without naming the individual. No comments came via email from Yacccarino, chairman of global advertising and partnerships at NBCUniversal Media. Another NBCUniversal representative stated that she was practicing for the business’s Upfront presentations to advertisers. Musk also added in Twitter comments that his role will transition from being an executive chairman and CTO, overseeing product, software and sysops.
While making significant adjustments, Musk bemoaned having “too much work” and sleeping at Twitter‘s San Francisco offices. He posed the question to his Twitter followers in December, and 57.5% of them responded in the affirmative. The billionaire will remain executive chairman following the transition. He also happens to be the CEO of Tesla Inc. and Space Exploration Technologies Corp. and has drawn criticism for his abrupt policy changes at Twitter. He has also neglected other businesses. The corporate name of Twitter’s parent has also been changed by him to X Holdings, an entity that could eventually be the parent for all his business. This idea he has publicly mused about. He had always wished to build Twitter beyond social media and into an ‘everything app’, with the inclusion of financial services.
Now he says that the next CEO will have to deal with the fallout from his ownership, including an advertiser exodus. Since 2022, despite their having been a slight uptick in daily users, Twitter’s revenue has fallen by 50% since October as a result of a ‘massive decline’ in advertising, he had said in previous comments from March. Twitter’s blue subscription plan has also been flailing drawing less than 15 of the user base. Even though Musk eliminated tens of thousands of workers and reduced the company’s content monitoring, allowing previously banned content that violated the rules to reappear, problems have continued to worsen.
Yaccarino, who already had friendly terms with Musk had interviewed him last month at a major advertising conference in Miami and called him ‘friend’ and ‘buddy’ on stage. Twitter and NCBU have recently expanded their Olympic Games partnership. Puck News’ Dylan Byers has reported via a tweet that Musk had planned to name Yaccarino as Twitter’s CEO, along with two people familiar with the matter. Although maximum information has come from a syndicated feed, the news that has spread bears some truth. Lou Paskalis, who advises marketers as chief strategy officer at Ad Fontes Media, on Twitter has said that Yaccarino would be his first choice as the CEO and he had no other option but to defend the platform against its owner.
