Elon Musk, the CEO of Tesla and Twitter, will step down from his position within the subsequent few weeks, and we’ve dived deep into his successor, Linda Yaccarino.
After buying Twitter for an estimated $44 billion final November, Elon Musk’s reign as CEO of the corporate is coming to an finish. Nevertheless, the tycoon gained’t be stepping away fully from the corporate as he strikes right into a extra technology-focused position as CTO and Government Chairman.
I’m excited to welcome Linda Yaccarino as the brand new CEO of Twitter!@LindaYacc will focus totally on enterprise operations, whereas I deal with product design & new know-how.Trying ahead to working with Linda to remodel this platform into X, the the whole lot app. https://t.co/TiSJtTWuky
— Elon Musk (@elonmusk) Could 12, 2023
Who’s Linda Yaccarino?
Musk’s alternative will probably be Linda Yaccarino, the top of NBCUniversal’s promoting and partnerships. Her time at NBCUniversal has seen her handle campaigns which have introduced in over $100 million in gross sales. On high of this, she appears adept and well-versed with social media websites, having labored with a wide range of them prior to now.
Yaccarino has additionally labored with each the Trump and Biden administrations and the World Financial Discussion board as Chairman of the Taskforce on the Way forward for Work. Musk has been crucial of the WEF beforehand.
She has additionally wasted no time alluding to her plans for Twitter, tweeting out concerning the high quality of dwell streams for the Paris Olympics subsequent 12 months.
Nevertheless, Musk doesn’t plan to depart the corporate. Whereas the brand new CEO will management the day-to-day operations of the corporate, Musk will nonetheless oversee the “product, software program & sysops” facet of issues.
Musk’s reign at Twitter attracts to an in depth
Excited to announce that I’ve employed a brand new CEO for X/Twitter. She will probably be beginning in ~6 weeks!My position will transition to being exec chair & CTO, overseeing product, software program & sysops.
— Elon Musk (@elonmusk) Could 11, 2023
Musk’s time at Twitter has been tumultuous at finest. Twitter has been topic to lots of cuts, with the estimated headcount right down to round 1300 as of January of this 12 months.
He has additionally launched Twitter Blue and eliminated verification from legacy customers. This verification subscription has been abused by malevolent customers to mimic manufacturers.
Twitter Blue has additionally did not make a lot of an influence, with tough estimates placing it at a few quarter of one million customers.
One other estimate pertains to the quantity of legacy verified customers who at the moment are subscribed to Twitter Blue. Beforehand, 420,000 celebrities and folks have been verified, and of these, 6,482 look like paying to proceed the advantages.
It was additionally revealed that Musk is paying outright for sure Twitter Blue customers. Twitter has additionally just lately fallen behind in paying hire in 2023.
Musk additionally obtained himself into critical bother when it was revealed Twitter hadn’t paid a disabled staffer – then mocked him – who owned an organization Twitter purchased out. The contract specified that as a substitute of a lump sum, it’d be paid out as a wage, with any breaks within the contract leading to a $100 million payout.
Current additions to Twitter, like encrypted direct messages have been locked behind a paywall. A brand new 30-day restrict on inactive accounts being wiped has are available a lot faster than anticipated. On high of this, Twitter plans to combine voice calling into the app in some unspecified time in the future sooner or later.
Glass cliff issues
Heidi Moore, an ex-journalist for a spread of shops has identified this suits inside the “glass cliff” methodology of high-end “clean-up” operations at firms.
Basically, this process is so unimaginable that it makes for a straightforward scapegoat for issues getting worse because the platform degrades over time.
Harvard Business Evaluation has present in a research that 69% of firms will select a girl to aim to clear the mess made. In one other experiment, 63% of individuals selected a girl to guide an organization in disaster, whereas 67% selected a person to guide a profitable one.