Elon Musk, the owner of Twitter, recently revealed that he has selected a new CEO to take the reins of the social media giant. In a tweet, Musk announced that a female executive would be assuming the role in about six weeks’ time. While he did not disclose the new appointee’s name, speculation is rife that NBCUniversal’s global head of advertising, Linda Yaccarino, is the top contender.
Musk stated, “Excited to announce that I’ve hired a new CEO for X/Twitter. She will be starting in ~6 weeks!” He also revealed that his role would evolve into an executive chair and CTO, with oversight of product, software, and system operations.
Elon Musk acquired Twitter in October last year for a whopping $44 billion. He then replaced the former CEO Parag Agrawal and let go of other executive leaders. Musk has since brought about significant changes in the platform’s policies and features, leading to mixed responses from users and advertisers alike.
Musk’s tenure as CEO saw the introduction of a costlier Twitter Blue subscription, allowing users to purchase verification. He also dissolved the platform’s Trust and Safety Council and restored accounts of controversial figures like former president Donald Trump and Rep. Marjorie Taylor Greene.
The Wall Street Journal reported that Linda Yaccarino is “in talks” for the CEO position. Yaccarino, who has nearly 19,000 followers on Twitter, has played a crucial role at NBCUniversal for over a decade.
This announcement comes as a relief to Tesla investors who were increasingly concerned that Musk’s Twitter involvement might distract him from his responsibilities as Tesla CEO. Post the announcement, Tesla’s shares saw a significant surge.
Though he is stepping down from the CEO role, Musk continues to own Twitter, which he recently renamed X Corp, aligning with his vision of creating “X, the everything app.”
While there’s excitement surrounding the new appointment, Musk has also drawn attention to the challenges that the role entails. As he put it in December, he was looking for someone “foolish enough to take the job”. It remains to be seen how the new CEO will steer Twitter in the coming months.