Linda Yaccarino to be new Twitter CEO after Elon Musk steps down | Tech News

Linda Yaccarino to be new Twitter CEO after Elon Musk steps down

Linda Yaccarino, executive at Comcast's NBCUniversal will be the new CEO after Elon Musk steps down.

By: HT TECH
| Updated on: May 12 2023, 22:49 IST
Elon Musk Twitter Bankruptcy Talk: Timeline
Linda Yaccarino
1/13 He’s told employees to brace themselves for long hours, that “the road ahead is arduous and will require intense work to succeed,” and said bankruptcy was possible. Here’s how the saga is unfolding: (Bloomberg)
Linda Yaccarino
2/13 Oct. 27: Musk takes control- His first act is to fire the Board along with CEO Parag Agrawal, CFO Ned Segal, head of legal Vijaya Gadde and Counsel Sean Edgett. Musk forms advisory team that includes celebrity attorney Alex Spiro, VC David Sacks, Neuralink CEO and head of Musk’s family office Jared Birchall, investor Jason Calacanis, and partner of Andreessen Horowitz Sriram Krishnan. (Reuters)
Linda Yaccarino
3/13 Oct. 28: Brands begin to take pause- As Musk plans to unban accounts and says he will charge for user verification, advertisers suspend ads. (AFP)
Linda Yaccarino
4/13 Oct. 31: Top tweeters protest- Amid murmurings of plans to charge existing verified accounts, author Steven King tweets, “$20 a month to keep my blue check? F**k that, they should pay me. If that gets instituted, I’m gone like Enron.” (AFP)
Linda Yaccarino
5/13 Nov. 1: Teams working around the clock- The product team works over the weekend on Musk’s idea to charge users for blue check marks. A photo of product director Esther Crawford sleeping on the floor of a conference room, trying to make the deadline, goes viral. Meanwhile, managers are asked to make lists of who can be fired. Employees print out their software code for review by Musk and engineers from Tesla, to determine if their contributions are worthy of keeping a job. (REUTERS)
Linda Yaccarino
6/13 Nov. 3: Massive layoffs begin- A memo is sent to all employees telling them of imminent layoffs and to watch for an email with the subject line: “Your Role at Twitter.” Badge access to offices is suspended as 3,700 staffers receive word that they’ve been cut. Realizing employees essential for the continuity of the business have been let go by mistake, some are asked to come back. (AP)
Linda Yaccarino
7/13 Co-founder EV Williams tweets, “Heart’s out to the tweeps getting laid off today.” Co-founder Jack Dorsey adds, “I realize many are angry with me. I own the responsibility for why everyone is in this situation: I grew the company size too quickly. I apologize for that.” (REUTERS)
image caption
8/13 Nov. 5-6: Musk responds to celebrity protests- Unrest grows on the platform over the weekend, particularly over the issue of impersonator accounts. Actress Valerie Bertinelli starts a movement of people changing their Twitter names to “Elon Musk.” Comedian Kathy Griffin joins the protest, finds her account locked. Then Musk announces, “Going forward, any Twitter handles engaging in impersonation without clearly specifying `parody’ will be permanently suspended.” (AP)
Linda Yaccarino
9/13 Nov. 8: Musk sells more Tesla- Despite a previous vow not to sell any more Tesla stock, Musk sells an additional $3.95 billion, bringing the total sold in past year to $36 billion. (REUTERS)
Linda Yaccarino
10/13 Nov. 9: Musk Blue tick mark- Blue check mark option becomes available for purchase, and immediately becomes a tool for impersonators. An account masquerading as Nintendo Inc. posts an image of Super Mario holding up a middle finger. (REUTERS)
Linda Yaccarino
11/13 Tesla and SpaceX CEO Elon Musk, and a close cadre of advisers are considering a host of changes to the way Twitter is run and makes money. (REUTERS)
Linda Yaccarino
12/13 Nov. 10: More key executives quit as Musk warns of bankruptcy- In his first meeting with employees, Musk tells them to brace for 80-hour weeks and requires everyone back in the office full time. He also says bankruptcy for the company is not out of the question if it doesn’t start generating more cash. Several executives in charge of keeping Twitter safe and accountable to its users quit, including chief information security officer Lea Kissner, chief privacy officer Damien Kieran and chief compliance Marianne Fogarty.. (AFP)
Linda Yaccarino
13/13 Nov. 11: Verified accounts get “Official” tags- Twitter adds badges that say “offiical” to verified accounts in some places, though confusion abounds. More brands depart the platform. (REUTERS)
Linda Yaccarino
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Linda Yaccarino likely to taking charge of twitter as a CEO. (Twitter)

Elon Musk, CEO of Tesla, announced on Thursday that he has hired a new chief executive for Twitter. Musk did not disclose the name of the replacement initially, but shared his excitement about the appointment

However, thereafter, the Wall Street Journal reported that Linda Yaccarino,  the top advertising sales executive at NBCUniversal is in talks to become Twitter's new chief executive officer. Musk had announced on Thursday that he has hired a new chief executive for Twitter. 

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Today, Musk confirmed the report when he tweeted, “I am excited to welcome Linda Yaccarino as the new CEO of Twitter! @LindaYacc will focus primarily on business operations, while I focus on product design & new technology."

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He added to that by posting exactly what he had in mind about her goal, "Looking forward to working with Linda to transform this platform into X, the everything app..”

 Earlier, Musk had said that the new CEO will begin in approximately six weeks. As part of the transition, Musk will take on the positions of Executive Chair and CTO, overseeing product development, software, and system operations.

This move aims to alleviate concerns among Tesla investors who have expressed worries about Musk's extensive involvement in Twitter, diverting his attention from the electric vehicle company and SpaceX, the aerospace manufacturer he also leads. Following the news, Tesla's stock experienced a 2.4 percent surge in trading volume.

In November, Musk had announced his intention to reduce his role in Twitter and search for a new leader to manage the social media platform but had not previously disclosed any potential candidates. Upon assuming ownership of Twitter in October, Musk swiftly implemented significant changes, including the removal of Parag Agrawal, the previous CEO, and other top executives. In November, he also downsized the company by laying off half of its workforce.

As a self-proclaimed advocate of free speech, Musk expressed his concern on taking over Twitter as a means to prevent the platform from becoming a breeding ground for hate and divisiveness. He emphasized his commitment to combating spam bots, an area of contention with Twitter's board.

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First Published Date: 12 May, 08:42 IST
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