Elon Musk initially backed out from buying Twitter last year. However, he had to finish the acquisition after the social media giant sued him. Musk eventually bought the company for $44 billion and since then, he has been making several drastic and bizarre changes to generate profit.
Amid all this, Musk once asked the users if he should step down as the micro-blogging site’s CEO. A majority of people voted Yes but Musk hasn’t changed his decision. However, recently the 51-year-old billionaire tweeted that he will be hiring someone new as Twitter’s CEO.
Elon Musk To Step Down As Twitter CEO
On Thursday, Elon Musk tweeted, “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.”
According to a Variety report, Linda Yaccarino will be joining the social media giant as the CEO. She is the chairperson, global advertising and partnerships, of NBCUniversal for a decade.
Before that, she worked with WarnerMedia’s TV operations for a while. Linda is considered to be one of the biggest names in the television industry and will surely boost Twitter for good.
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Musk Showed His Interest In Stepping Down As Twitter CEO Last Year
In December last year, a majority of people voted Yes in a poll conducted by Musk asking users if he should step down as Twitter’s CEO. Musk’s tenure has been quite chaotic and controversial.
Recently, he renamed its parent company as X Corp. Since the acquisition, Twitter’s value has dropped to $20 billion and many high-profile names have quit the platform because of Musk.
The billionaire has fired nearly half of the company’s workforce, stopped paying office rent, or to company vendors, and has introduced the polarizing Twitter Blue policy.
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