Elon Musk Steps Down From Being 'Chief Twit,' And Appoints 'A New CEO For X/Twitter'

12/05/2023

It isn't the biggest of social media platforms, nor it is the most powerful.

But Twitter is unique on its own, and has its own legions of fans. From government leaders to politicians, to high-profile business people to other influential figures that also include celebrities and influencers, and anything in between, Twitter is a place for them.

Co-founded by Jack Dorsey, it has since been bought by billionaire Elon Musk, who claimed to be the 'Chief Twit'.

After numerous controversies regarding how Twitter should be, both internally and externally, and after a poll that concluded that Musk should step down, the billionaire is finally giving in.

This is because he has named a CEO of Twitter.

Her name is Linda Yaccarino, a former head of advertising at NBCUniversal.

Linda Yaccarino, Twitter

Musk bought the social media platform last year for $44 billion, and since been under pressure to find someone else to lead the company, so he could focus on the development of Twitter and other of his businesses, which include electric carmaker Tesla and rocket firm SpaceX.

And Yaccarino here, is named the CEO after six months Musk made his controversial acquisition of the social media company.

At the helm, she would oversee business operations at the site, which has been struggling to make money.

According to Musk in a tweet, Yaccarino would start in six weeks.

With Yaccarino at the helm, Musk would remain involved as executive chairman and Chief Technology Officer.

"Looking forward to working with Linda to transform this platform into X, the everything app," he wrote on Twitter, confirming the decision a day after he had stoked speculation by writing that he had found a new boss without revealing their identity.

At this time, less than 10% of Fortune 500 tech companies headed by women, and by becoming CEO of Twitter, Yaccarino is becoming that rare example of a woman at the top of a major tech firm.

Read: Twitter, Inc. Becomes 'X Corp': A Step Towards Becoming An 'Everything App'

Elon Musk, Twitter

Yaccarino was raised in an Italian-American family, with a father who was a police officer and a mother who never went to college.

Growing up in Deer Park, New York, she graduated from Pennsylvania State University's Donald P. Bellisario College of Communications with a bachelor's degree in telecommunications in 1985.

She then worked at Turner Entertainment for 15 years, becoming executive vice president and chief operating officer of ad sales where she played a key role in developing innovative advertising and marketing solutions. before joining NBCUniversal.

There, she oversaw roughly 2,000 people, and was involved with the launch of its streaming service.

Her work has been marked by close collaborations with big brands, finding opportunities for product placement and convincing them to advertise alongside television shows.

What what her peers see, Yaccarino's background in advertising could be a huge help to Twitter, which has seen its ad sales drop sharply since Musk's takeover.

For this reason, Yaccarino who is known for her negotiating style within the industry, has earned the nickname the "velvet hammer".

Yaccarino resigned from NBCUniversal on May 12, 2023, and on the same day Elon Musk announced that Yaccarino would be the new chief executive officer of X Corp. and Twitter.

Yaccarino, was a chairman of global advertising and partnerships at NBCU, has been with NBCU for more than a decade, where she has been an industry advocate for finding better ways to measure the effectiveness of advertising.

As head of NBCU’s advertising sales, she was key in the launch of the company’s ad-supported Peacock streaming service.

By becoming CEO, Yaccarino faces the challenge of running a business that has struggled to be profitable, while facing intense scrutiny over how Twitter handles the spread of misinformation and manages hate speech.

When Musk first started discussing his plans for Twitte, he said he wanted to reduce the platform's reliance on advertising and make changes to the way it moderated content.

After taking over, he fired thousands of employees, including people who had been tasked with dealing with abusive posts, in the name of saving money. He also overhauled the way the service authenticates accounts, charging for blue ticks in a move critics said would facilitate the spread of misinformation.

Further reading: Twitter Grew 'Too Quickly.' But It 'Will Never Die'