In a surprise move, billionaire entrepreneur Elon Musk has appointed Linda Yaccarino as the new CEO of Twitter. Yaccarino, who recently resigned as the head of advertising at NBC Universal, has yet to publicly comment on her appointment.
Musk took to Twitter to announce the news, stating that Yaccarino will primarily focus on business operations. However, he will continue to oversee product design and new technology. He also hinted at his plans to transform Twitter into X, the Everything App.
This move comes amidst a period of chaos at Twitter, which Musk has presided over. Particularly since the company’s massive layoffs which cut the employee count from 7,500 to about 1,000. The proliferation of misinformation on the site has also alarmed advertisers, leading some to hit pause on ads.
In an attempt to boost Twitter’s finances, Musk has rolled out paid features via the subscription service Twitter Blue, though to mixed success. The appointment of Yaccarino as CEO is expected to bring much-needed stability and direction to the social media platform.
Despite Yaccarino’s appointment, Musk will still maintain his role as executive chair and chief technology officer, overseeing product, software, and systems operations. However, he has stated that his intention is to eventually step back from the Twitter CEO role. This comes amid growing concerns from Tesla shareholders that he was not focusing enough on the electric vehicle-making company.
The appointment of Yaccarino is seen as a strategic move for Twitter as the company looks to reposition itself amidst increasing competition from other social media platforms. Only time will tell if Yaccarino can successfully guide Twitter toward a new era of growth and profitability.
