Elon Musk Announces New CEO for Twitter and Transition Plans.
In a recent announcement on Twitter, Elon Musk revealed that he has selected a new chief executive to lead the social media platform. Acquiring Twitter last year for $44 billion (£35.2 billion), Musk has been under increasing pressure to appoint a successor while focusing on his other ventures.
While he did not disclose the name of the incoming CEO, Musk stated that she would assume the role in six weeks. At that point, he will transition to the positions of executive chairman and chief technology officer within the company.
Previously, Musk had expressed reluctance to retain the role, citing a lack of interest from potential candidates capable of maintaining Twitter’s vitality. However, the timing and certainty of the leadership transition remained uncertain until now.
After the announcement, Tesla shares experienced an increase. Mr. Musk, who had previously faced accusations from shareholders of neglecting Tesla following his takeover of Twitter and damaging the car company’s reputation, seemed to have taken a positive step forward.
Dan Ives from the investment firm Wedbush Securities expressed his views on the matter, stating, “We consider this a significant advancement, as Musk appears to have finally recognized the impact of his Twitter situation. Trying to juggle the responsibilities of being CEOs of Twitter, Tesla, and SpaceX was an impossible task that needed to change,” Mr. Ives added.
According to reports from two US media outlets, The Wall Street Journal and Variety, there were discussions with Linda Yaccarino, the head of advertising at NBCUniversal, about her potentially becoming the CEO of Twitter. Neither Twitter nor NBCUniversal provided any comments on these reports.
Determining when the billionaire and Twitter owner is being serious can sometimes be challenging.
However, if Mr. Musk has indeed chosen a female executive for the role, it would be a significant milestone as there are relatively few women who have reached
