Elon Musk to step down as Twitter CEO; this executive may succeed him

Elon Musk, a renowned personality, holds the ownership of Twitter, and he has also been serving as the CEO, a role that is not alien to him since he already assumes the position of the chief executive of Tesla and SpaceX, besides being a significant stakeholder in both. However, shortly after taking over Twitter in October 2022, Musk put forth his intention to hire someone to relieve him of his CEO duties.

Musk recently tweeted and asked the mass if he should step down from the post, "Should I step down as head of Twitter? I will abide by the results of this poll," thereby indicating his willingness to relinquish his position. Astonishingly, approximately 17 million users voted, with 57.5% or approximately 9.8 million people voting in favor of Musk stepping aside. Nevertheless, he has not provided any indication until now that he would uphold his promise and appoint a CEO.

In a recent development, Musk took to Twitter on May 12 to announce that he had hired a new CEO for X/Twitter, stating that "she" would be starting in about six weeks, and his role would transition to being executive chair and CTO, with an oversight on product, software, and sysops. Musk did not disclose the identity of the new chief executive, but he hinted that he had selected a woman. As per the Wall Street Journal, Linda Yaccarino, the head of advertising at NBCUniversal, is in negotiations for the position of CEO.

Tesla's shares skyrocketed following Musk's announcement. The identity of the next CEO remains undisclosed as Elon Musk has not revealed any information in this regard.

As per the insights offered by Dylan Byers of Puck News, it has been revealed, citing the inputs of two undisclosed sources, that the coveted position of the Chief Executive Officer will be taken over by Linda Yaccarino, who is a top-notch advertising executive at NBC Universal. However, in the wake of subsequent developments, The Wall Street Journal has come up with a report that corroborates the ongoing talks surrounding Yaccarino's appointment as Twitter's CEO. An NBCU spokesperson has further added that Yaccarino is presently enmeshed in a series of "back-to-back rehearsals" for an upfront presentation that is geared towards advertisers.

Furthermore, it is worth noting that Twitter has forged an expanded partnership with NBCUniversal, which is aimed at enhancing the former's coverage of the upcoming 2023 Olympic Games. Notably, Yaccarino has taken to Twitter, urging Musk to revive the once-popular app, Periscope. In a related development, she has also conducted a face-to-face interview with Musk at the marketing event of Possible 2023 in Miami.

Read more: HDFC and HDFC Bank merger to bring changes to interest rates and rules? Know here