While Musk did not reveal the identity of the new Twitter CEO he announced on Thursday, the Wall Street Journal claimed that Linda Yaccarino, an executive at Comcast (CMCSA.O) NBCUniversal, was in talks for the position.
Among his tweets, Musk wrote, “Excited to announce that I’ve hired a new CEO for X/Twitter. She will be starting in ~6 weeks!”
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
Musk has announced that he will be taking over as the social media platform’s chief technology officer within the next several weeks.
Musk became Twitter’s CEO in October after spending $44 billion to acquire the company. In December, he announced that he would resign from his position once he found “someone foolish enough to take the job.” He later announced that he will be in charge of Twitter’s IT department.
Does Anyone Know Who Twitter’s New CEO Is?
The WSJ reported, based on statements from people with knowledge of the issue, that Yaccarino was a frontrunner for the CEO position.
Reuters reported after Musk’s post that a Silicon Valley executive and a former Hollywood executive, both of whom spoke on the condition of anonymity, said that Yaccarino might be Musk’s choice to manage Twitter.
At a recent advertising conference in Miami, Yaccarino, the senior advertising sales executive at NBCUniversal, interviewed Musk. Yaccarino praised Musk’s work ethic and urged conference attendees to applaud when he arrived.
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She told the group, “Many of you in this room know me, and you know I pride myself on my work ethic,” before adding, “Buddy, I met my match.”
After 15 years at Turner Entertainment, Yaccarino joined NBCU in 2011 and is widely recognized with ushering the network’s advertising sales department into the digital age.
Last year, she told advertisers at Radio City Music Hall that their brand messages were not an afterthought as audiences shifted away from traditional broadcast television toward streaming. On Thursday, when we tried to reach Yaccarino for comment, he did not return our calls.
A representative from NBCUniversal stated, “Linda is in back-to-back rehearsals for the Upfront,” referring to a presentation that will be held on Monday in New York for advertisers by NBCUniversal.
Comcast announced last month that NBCUniversal CEO Jeff Shell was leaving after admitting to an inappropriate connection with a woman in the firm; this was in response to a complaint that spurred an investigation. Yaccarino’s departure would be another major blow to the company.
You may see the tweet below in which Twitter‘s new CEO, Linda Yaccarino, is currently the Executive Chair for the World Economic Forum, and was Chairman of Advertising at NBC Universal.
Musk, who has been criticized by investors in his Tesla (TSLA.O) electric vehicle company for his seeming lack of focus on the company, recently announced his plans to take on the roles of both CTO and executive chair at Twitter. He will be responsible for the company’s product, software, and system operations.
On Thursday, Tesla shares ended the day 2% higher after Musk announced a new CEO for Twitter 15 minutes before Wall Street closed. After-hours trading saw a 1.6% increase in share price.
Musk’s ankle no longer has to bear the weight of the boat anchor that is Twitter. Craig Irwin, an analyst at Roth MKM, is pleased that “he can now devote more time to creating value at Tesla.”
Musk has long stated that he plans to replace the current Twitter CEO. 57.5% of respondents to a poll that Musk initiated on Twitter in December wanted him to resign from his position as CEO.
In his first two weeks as Twitter’s owner in October, the billionaire instituted sweeping changes. In November, he sacked half of Twitter’s workforce after having already ousted CEO Parag Agrawal and other top executives.
Musk, who describes himself as a “free speech absolutist,” claims he took control of Twitter to stop it from serving as a platform for hate speech and divisiveness. During his back-and-forth with Twitter’s board over his proposed buyout, he also promised to “defeat” spam bots on the platform.
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