Elon Musk Appoints Linda Yaccarino as Twitter's New CEO, Aiming for Transformation and Profitability
By Anat Eldho - May 13, 2023
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| Twitter HQ (Credits: Bangor Daily News) |
Elon Musk has appointed Linda Yaccarino as the new chief executive of Twitter, following his controversial takeover of the social media platform six months ago. Yaccarino, the former head of advertising at NBC Universal, will oversee the company's business operations as it struggles to generate revenue. Musk will remain involved in the company as executive chairman and chief technology officer. He confirmed the decision in a tweet, saying he was "looking forward to working with Linda to transform this platform into X, the everything app".
As the CEO of Twitter, Yaccarino will become a rare example of a woman at the top of a major tech firm, as fewer than 10% of Fortune 500 tech companies are headed by women. She has risen steadily through the ranks of some of America's biggest media companies and will now be tasked with turning around Twitter's fortunes.
Musk had been under pressure to find someone else to lead the company, allowing him to focus on his other businesses, such as Tesla and SpaceX. He bought Twitter last year for $44bn, and the company has since struggled to make money. The appointment of Yaccarino is seen as a move to re-energize the platform and make it more profitable.
Yaccarino will start in six weeks, and Musk has said he is excited to work with her to transform Twitter into an "everything app". He had sparked speculation the day before by tweeting that he had found a new boss without revealing their identity, leading to anticipation and excitement among Twitter users about who the new CEO might be.
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