On May 11, billionaire Elon Musk said he had found a replacement for the post of Twitter chief executive.
wow a new female CEO! congrats gainzy!!!!
— Udi Wertheimer ?♂️ (@udiWertheimer) May 11, 2023
“She will take office in about six weeks,” wrote Musk.
The billionaire himself will assume the roles of executive chairman and chief technology officer. He did not disclose the reasons for stepping down as CEO.
According to WSJ, negotiations to assume the post are being led by Linda Yaccarino, head of NBCUniversal’s advertising division.
Musk confirmed that Yaccarino will become Twitter’s CEO.
I am excited to welcome Linda Yaccarino as the new CEO of Twitter!@LindaYacc will focus primarily on business operations, while I focus on product design & new technology.
Looking forward to working with Linda to transform this platform into X, the everything app. https://t.co/TiSJtTWuky
— Elon Musk (@elonmusk) May 12, 2023
“[Yaccarino] will focus primarily on business operations, while I focus on product design and new technologies,” the billionaire explained.
In April 2021, Musk became the largest shareholder of Twitter after acquiring 9.2% of shares for $2.89 billion. Later he proposed to buy the social network for more than $43 billion to create an “inclusive arena for freedom of speech.”
The $44 billion deal closed in October. The company’s former CEO Parag Agrawal and its chief financial officer Ned Sigal left the headquarters.
In February 2023, Musk introduced his Shiba Inu dog named Floki as CEO, triggering a sharp rise Dogecoin (DOGE).
In April, the blue bird logo on the main Twitter account’s homepage took the place of the Shiba Inu meme-cryptocurrency symbol. The asset surged by more than 25%, but after reversals lost value.