Twitter CEO Elon Musk Announces Linda Yaccarino as His Successor
Elon Musk, the CEO of Twitter, has revealed his successor: Linda Yaccarino. She will assume her role as Twitter CEO in six weeks. Musk will continue to serve as chairman and technology chief in the Twitter board, which has merged with his enigmatic company X.
Earlier today, Yaccarino announced her resignation as the chief advertising officer at media conglomerate NBCUniversal.
Musk expressed his excitement to collaborate with Yaccarino to "transform this platform into X, the all-in-one app." X is the company that Musk recently merged with Twitter.
As chairman of the board, Musk will be less involved in the day-to-day operations of the company. He stated that his focus will primarily be on product development, software, and system management.
All-in-One App like WeChat
Musk envisions incorporating Twitter into the all-in-one app 'X,' where users can engage in various activities.
This concept brings to mind the popular Chinese app WeChat, which allows users not only to chat but also to purchase concert tickets and manage banking services, among other functions.
Months-long Search for a Successor
Musk acquired Twitter in October 2022 along with several investors for $44 billion. In December, he announced his intention to step down as CEO but only after finding a suitable successor.
His decision followed a Twitter poll in which he asked whether he should resign as CEO, and a majority voted in favor of his resignation.
Numerous Changes Implemented
Following his takeover of Twitter, Musk, who also serves as the CEO of Tesla and SpaceX, implemented several controversial changes. He laid off three-quarters of the staff.
Additionally, he altered the policy regarding "blue checkmarks." Twitter used to grant these verifications for free to accounts of notable individuals or organizations to confirm their authenticity. However, subscribers to Twitter's paid service, Blue, can now purchase a checkmark. Government organizations and companies now have a different color for their verification badges.
Advertisers were taken aback by these interventions and expressed concerns about an increase in hate speech or fake news on the platform. Consequently, they withdrew from Twitter, leading to significant revenue losses. In April, Musk stated that the worst losses were behind them, and Twitter is approaching breakeven again.
