Elon Musk has announced that he has found a new chief executive to lead Twitter, the social media platform he acquired last year.
Although he did not reveal the new boss’s name, Musk stated that “she” would assume the position in six weeks, at which point he would become executive chairman and chief technology officer. The move comes as Musk faces mounting pressure to name a successor and focus on his other ventures. Tesla shares rose following the announcement. Last year, Musk had indicated his intention to hand over control, but the timing and certainty of the transition remained unclear. Shareholders previously accused Musk of neglecting Tesla after his Twitter acquisition, which they believed harmed the car company’s brand.
The appointment of a new chief executive is seen as a positive step, as Musk is perceived to have finally recognized the need for change in managing Twitter. Balancing his responsibilities as CEO of Twitter, Tesla, and SpaceX was deemed impossible by industry experts. Media reports have suggested that Linda Yaccarino, head of advertising at NBCUniversal, is in talks to become Twitter’s chief executive, although neither Twitter nor NBCUniversal have officially commented on the matter.
If Musk has indeed appointed a female executive, it would be a significant development, as women in top leadership roles at major technology companies remain relatively rare. Less than 10% of chief executives at technology firms in America’s largest 500 companies were women last year.
While Musk has discussed the potential of paid subscribers through Twitter Blue, advertising remains the primary revenue source for the platform. The new CEO is expected to focus on improving relationships with advertisers and addressing concerns about content moderation. Musk, known for his support of free speech, took over Twitter to safeguard this principle. However, advertisers are cautious about having their content associated with misinformation or extremist material.
Musk’s acquisition of Twitter faced legal challenges but proceeded in October. After assuming control, he controversially terminated thousands of employees in an effort to reduce costs at the struggling company. In March, Musk reported improved financial performance for the platform, and he recently stated that most advertisers who initially abandoned Twitter after the acquisition have returned.
