- Famed global entrepreneur Elon Musk has stepped down as Twitter CEO.
- However, he will still remain the majority shareholder at Twitter and will be the one that sets the general direction.
- Currently, the rumor mills seem to favor NBCUniversal’s head of advertising Linda Yaccarino as the newly ordained CEO.
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Elon Musk has stepped down as twitter CEO. In an announcement via his Twitter feed, he clarified that the move was deployed in aims to scale back his involvement in the company.
“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,” Musk said.
Elon Musk will remain the majority shareholder at Twitter and will be the one that outlines the general direction. This move likely means he would like to focus on the Software development side which has been facing a lot of fluctuations lately
Musk also has interests in other companies and this move may be to allow him to give his other ventures attention. In the recent past, SpaceX has been doing test launchers for its Starlink project.
The announcement that the new CEO is female immediately ruled out any male contenders that had been mooted before. However, it then brought about speculation on who was the new CEO.
Currently, the rumour mills seem to favour NBCUniversal’s head of advertising Linda Yaccarino, with the Wall Street Journal reporting that talks are underway.
Ms. Yaccarino has been a staunch supporter of Elon Musk. Only recently, Ms. Yaccarino had a chance to interview him on TV. Twitter which has been relying on advertising revenue, is struggling to bring back advertisers on the platform.
Ms. Yaccarino has experience in advertising, media, and streaming and has spoken in support of freedom of speech. All this makes her aligned with the direction Elon Musk wants to take the giant social media platform.
Twitter has been experiencing changes and this is just another one for the company.
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