Elon Musk, Twitter's owner, has named a new CEO to lead the social media platform, reportedly Linda Yaccarino from NBCUniversal.

Elon Musk Announces New CEO for Twitter

Table Of Content

• Who is the New CEO?
• What Does This Mean for Twitter?
• Why is This Important?
• What About Advertising?
• What Has Elon Musk Done So Far?

Who is the New CEO?

Elon Musk, the owner of Twitter, has announced that he has found a new chief executive to lead the social media platform.

However, he did not reveal the name of the new boss. Reports suggest that the incoming leader will be Linda Yaccarino, who is the head of advertising sales at media giant NBC Universal.

Congratulations on the appointment of the new CEO! Wishing you all the best in your new role as exec chair & CTO overseeing product, software & sysops.

— WIZ Official (@wiz_aiimages) May 13, 2023

What Does This Mean for Twitter?

Elon Musk has been under pressure to name someone else to lead the company and focus on his other businesses.

Tesla shares rose after the announcement. Mr. Musk has previously been accused by shareholders of abandoning Tesla after his takeover of Twitter and damaging the car company's brand.

Why is This Important?

If Mr. Musk has indeed appointed a female executive, it will make her one of the few women to reach the top of a major technology company.

Women accounted for fewer than 10% of chief executives of tech firms included in America's 500 biggest companies last year.

What About Advertising?

Although Mr. Musk has talked about paying subscribers to Twitter Blue, it is advertising that brings in the vast majority of revenue at Twitter.

The new boss will no doubt seek to improve relationships with advertisers and smooth their fears over content moderation. Mr. Musk, a self-proclaimed free-speech absolutist, has said he took over Twitter to protect free speech.

However, advertisers do not want their content next to misinformation or extremist content.

What Has Elon Musk Done So Far?

Elon Musk purchased Twitter in October only after a lawsuit forced him to go through with the deal. Upon taking charge, Mr. Musk controversially fired thousands of staff to cut costs at the firm, which has struggled to be profitable.

In March, Mr Musk said those efforts had paid off and the platform's finances improved.

And last month he told the BBC that most of the advertisers that had abandoned Twitter immediately after the acquisition had returned.