Big news for Twitter 2.0 with Elon Musk, the app’s owner, stating that a new Twitter CEO will succeed him in six weeks. Take note of the mention of “X,” Elon’s grandiose but quite nebulous “everything app” project, which he intends to someday turn Twitter into.
According to a survey Musk sponsored in December, which received 17.5 million answers, Twitter users would prefer to have a new person in control. Many have been pushing for Musk to stand aside and let someone else take over at the platform.
Musk stated in a tweet today that he will “transition to being exec chair & CTO, overseeing product, software & sysops” after his unnamed replacement CEO begins in around six weeks.
Excited to announce that I’ve hired a new CEO for X/Twitter. She will be starting in ~6 weeks!
My role will transition to being exec chair & CTO, overseeing product, software & sysops.
— Elon Musk (@elonmusk) May 11, 2023
Musk picks new Twitter CEO, sets sights on ‘X’
Many people are worried that Musk’s quick and reckless adjustments to the app, which included dismissing almost 80% of its workers, may cause further issues down the road when the platform’s mechanisms deteriorate under increasing stress and are left uncontrolled. Although it’s unclear if Musk and the company have so far avoided any big disasters as a result of good fortune, secretive maneuvering, or more effective staff management that has allowed for relative stability.
At the same time, Musk also deployed his contentious $8 verification plan, which has caused several issues for the app. Additionally, advertising income has decreased by 50% as more corporations reduce their spending on Twitter as a result of changes in free speech policy.
New Twitter CEO might aid in righting the ship on these fronts. Still, you can also anticipate that Elon would have personally chosen his successor to carry out his overarching vision, which will probably result in the company staying the course in these crucial areas.
More likely, Musk’s remark is intended to alleviate Tesla shareholders’ worries, many of whom think Musk spends too much time worrying about Twitter-related issues. Tesla stock increased after Musk’s remark.
Investors in Mr. Musk’s other businesses, particularly electric automaker Tesla, have been pressuring him to step away from running Twitter daily, which they see as a distraction.
Following Mr. Musk’s tweet, Tesla shares, which had been relatively unchanged for most of the day, spiked and increased by roughly 2% in the closing minutes of trading on Thursday.
At his earlier firms, Mr. Musk has already delegated some leadership roles. He has handed over much of the management of SpaceX, his rocket maker, to Gwynne Shotwell, president, and chief operating officer. As a result, Mr. Musk is now free to roam between his numerous firms and concentrate on technical and product choices.
Change in the direction expected as the new Twitter CEO takes over
New Twitter CEO position is a significant one to take on, and winning back advertisers’ faith won’t be easy. Musk is also expected to be quite active in in-app activities, which might place the new Twitter CEO under a lot of pressure to deliver, very soon.
Will they be capable of the job? Will they live up to Elon’s demands? Either way, it will be a big adjustment that may cause the app to modify its course somewhat.
According to The Wall Street Journal, Linda Yaccarino, the current president of advertising at NBCUniversal, has been chosen to succeed Musk at Twitter. Throughout her more than ten years at NBCUniversal, Yaccarino has worked to put in place more efficient ad measuring tools. Yaccarino is reportedly a supporter of stricter age restrictions for using social media.
As Twitter continues to evolve, it’s essential to consider user preferences and needs while introducing new features to enhance the overall experience. Have you heard about the upcoming Twitter account purge that is announced by Elon Musk?