Change In Command: Elon Musk to step down as Twitter CEO, NBC Exec Linda Yaccarino to take over

Elon Musk has revealed his intentions to bring in a fresh CEO for Twitter, although he has not disclosed the person’s identity. In a tweet posted on Thursday, Musk shared that he has successfully appointed a new CEO for X/Twitter, who is expected to commence the role in approximately six weeks.

As for Musk himself, he will transition into the positions of executive chair and Chief Technology Officer, assuming responsibility for overseeing Twitter’s product, software, and sysops.

Excited to announce that I’ve hired a new CEO for X/Twitter. She will be starting in ~6 weeks!

My role will transition to being exec chair & CTO, overseeing product, software & sysops.

— Elon Musk (@elonmusk) May 11, 2023

According to an article by Dylan Byers from Puck News, NBC Universal advertising executive Linda Yaccarino is believed to be the chosen individual for the CEO position at Twitter, as mentioned by two undisclosed sources.

Musk stepping down as Twitter’s CEO
Following the initial announcement, The Wall Street Journal has reported that there are ongoing discussions regarding Linda Yaccarino potentially assuming the role of Twitter CEO. Yaccarino is currently engaged in consecutive rehearsals for an upfront presentation aimed at advertisers, which is why Musk hasn’t named her in his tweet.

Also read: Watch: Musk explains the key to effective communication on Twitter, says new CEO by year-end

It is worth noting that Twitter and NBCUniversal have recently announced an extended partnership to enhance the coverage of the 2023 Olympic Games through the platform. Yaccarino, in a tweet directed at Musk, suggested that Twitter should revive Periscope.

Although Elon Musk may soon step down as CEO, he remains the owner of the company, which he has renamed as “X.” It is unlikely that simply assigning a new CEO will significantly alter the unpredictable nature of Twitter.

Last October, Musk took on the title of “Chief Twit” upon finalizing the acquisition of the company, which was followed by the immediate dismissal of a considerable portion of the executive team and thousands of other employees.

Musk doesn’t want to be the CEO of any organisation that he owns
The divided attention of Elon Musk, as he juggles multiple companies including Tesla, SpaceX, Neuralink, and The Boring Company, has raised questions about the impact on these businesses both presently and in the future.

Also read: Elon Musk may step down as Twitter CEO. His replacement will need these qualities

In December, when Tesla’s stock price plummeted to $101, a significant drop from its peak of around $314 over the past year, Tesla investors openly urged Musk to give up control of Twitter. The aftermath has seen Tesla reducing vehicle prices and facing narrower profit margins, leading to what some describe as an electric vehicle price war due to increased competition.

As Musk has made changes to Twitter policies in line with his own preferences, speculation about the duration of his tenure and its effect on his other ventures has also intensified. The Musk era on Twitter has also brought about alterations that disrupted relationships with users, public safety officials, and most importantly, advertisers.

Had been looking for someone to hand over the reins to for a long time
Musk hinted at the CEO change through a poll conducted in December, in which he asked his followers whether he should “step down as head of Twitter.” He pledged to respect the outcome of the poll, which included responses from both genuine users and likely bot accounts.

Also read: Falling Tesla stock, erratic decisions: What will Musk do, now that Twitter users want him to step down as CEO

The poll came in the wake of a policy change by Musk that received significant criticism. Initially, the change appeared to prohibit the sharing of links to other social networking sites. However, Musk later clarified the rule and ultimately revoked it, assuring users that major policy changes would be subjected to a vote in the future.

Musk then tweeted the poll about stepping down, which garnered approximately 17.5 million responses. Of those responses, 57.5 per cent indicated that he should no longer be the CEO of Twitter.

The poll conducted by Musk was not the first indication that he intended to hand over the day-to-day operations of Twitter to someone else. In November, while testifying in court regarding his compensation as the CEO of Tesla, Musk stated that he anticipated reducing his involvement in Twitter and eventually finding a replacement to run the platform. This aligns with earlier reports suggesting that his role as CEO was initially conceived as a temporary one.

Who is Linda Yaccarino?
Linda Yaccarino currently holds the position of head of advertising and partnerships at NBCUniversal. There have been indications that Yaccarino had been actively vying for the position of CEO at Twitter for some time and had expressed her desire for the job on a number of occasions to her friends as well as several people close to Musk.

She has earned considerable respect among Chief Marketing Officers (CMOs) who need to be persuaded to allocate their advertising budgets to Twitter once more. Her track record and reputation make her a highly regarded figure in the field, further enhancing her credentials for the CEO position at Twitter.

She recently hosted Musk at the “Possible” advertising conference in Miami, where she conducted an enthusiastic interview. Yaccarino has also been actively tweeting, including expressing her excitement for NBC’s partnership with Twitter for the upcoming Olympics.

A source inside Twitter and one of Yaccarino and Musk’s acquaintances have also revealed to Alex Heath of The Verge, that both, Yaccarino and Musk share the same perspective on most political issues, which all but confirms her position as the next CEO of Twitter.

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