On 11 May 2023, Elon Musk tweeted that he found a new Chief Executive Officer (CEO) for Twitter. While he did not disclose the individual's name, sources cited by the Wall Street Journal indicate that Linda Yaccarino, an executive from NBCUniversal, is in talks for the position. Musk expressed his excitement, stating that the new CEO would begin in approximately six weeks. As part of the transition, Musk himself will assume the role of Chief Technology Officer (CTO) for the social media platform in the coming weeks.
Musk's takeover of Twitter occurred after his acquisition of the company for $44 billion in October. In December, he made it clear that he would step aside as CEO once he found a suitable replacement. Musk's plan was to focus on leading Twitter's software and servers teams. While sources close to the matter suggest that Yaccarino could be Musk's choice for the role, neither Musk nor Yaccarino have made any official statements regarding the reforms.
At an advertising conference, in April, in Miami, Linda Yaccarino interviewed Elon Musk. During this event, Yaccarino not only commended Musk's diligent work ethic but also urged the audience to acknowledge his accomplishments. With an extensive 15-year background at Turner Entertainment, Yaccarino is recognized for her pivotal role in revolutionizing the network's advertising sales operations to align with the evolving digital realm.
Musk's announcement about the new Twitter CEO came shortly before the closing bell on Wall Street, resulting in a 2% increase in Tesla shares. As Musk relinquishes his CEO role, analysts believe he will now be able to focus more on creating value at Tesla. Twitter shareholders have been critical of Musk's attention to the social media platform, which they perceive as a distraction from his responsibilities at Tesla.
Since taking over Twitter, Musk has been committed to combating hate speech and ensuring free speech on the platform. He also expressed his intention to address the issue of spam bots. While Twitter's financial performance has been relatively stable, with Musk mentioning that the platform is "roughly breaking even," the appointment of a new CEO marks an important step in Twitter's future direction.
As Musk transitions to the role of CTO, Twitter’s mission for open conversation is, possibly, left in the hands of Linda Yaccarino.