(GoRealNewsNow.com) – Elon Musk just announced that he has chosen a new CEO to lead Twitter, a platform he acquired last year for $44 billion.
Although Musk did not reveal the new CEO’s identity, he mentioned that “she” would take up the role in six weeks. Musk will then assume the positions of executive chairman and chief technology officer.
Rumors suggest that the new leader might be Linda Yaccarino, who recently left her position as head of advertising sales at NBCUniversal. Neither Twitter nor Yaccarino has commented on these reports.
Musk has faced pressure to appoint a new CEO for Twitter so that he can focus on his other ventures.
Despite a previous online poll calling for him to step down, Musk had not clarified when he would relinquish the position.
After Musk’s announcement, Tesla’s shares increased in value. Some shareholders have accused him of neglecting Tesla following his acquisition of Twitter, which they argue has harmed the car company’s brand.
“Trying to balance Twitter, Tesla, and SpaceX as CEOs [is] an impossible task that needed to change,” said Dan Ives, an analyst from Wedbush Securities.
If Yaccarino is indeed Twitter’s new CEO, she will join the small number of women leading major technology companies. Last year, less than 10% of top US tech firms’ CEOs were women.
Twitter’s new CEO will likely aim to improve relationships with advertisers and address concerns over content moderation.
While Musk identifies as a free speech absolutist and bought Twitter to protect it, advertisers are hesitant to have their content associated with misinformation or extremist material.
After acquiring Twitter in October, Musk made headlines by firing thousands of employees in an effort to reduce costs for the struggling platform. However, he has stated that the company’s finances have improved since then, with most advertisers who left following the acquisition eventually returning.
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