New CEO Twitter Will Start in Six Weeks
Elon Musk announced on Thursday that he has found a new CEO for Twitter and she will start in 6 weeks. But he said he would remain as the executive chair.
“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
Unfortunately, Mr. Musk did not offer more details about the new CEO. Previously, he made promises about what changes he would make at Twitter and his other companies. But he did not fulfill some of them.
Whether or not he names a new chief, Musk retains a firm grip on Twitter. After all, he is the owner. He has already eliminated over 75% of its 7,500 employees. He has installed his own leaders and has changed various service features and strategies.
Musk has other companies namely Tesla, Neuralink, The Boring Company, and SpaceX. Last year, Tesla investors urged Musk to hand over control of the social media platform as the car company’s stock price dropped from $314 to $101. Tesla has slashed prices on its vehicles. It is facing lower margins as it faces more competition.
Many admired Musk for his new Twitter policies. But some criticized them because the new policies seemed to match his own whims. Because of the new policies, Twitter’s relationship with users and investors has been affected.
When he took over, the platform’s ad business was affected. Some major advertisers paused their spending on the platform because Musk believes in free speech and it could damage their reputation. They were also concerned about the increasing number of fake verified accounts after Musk’s revamped Twitter Blue.
Eventually, he rolled out a more expensive Twitter Blue subscription while eliminating old legacy verified checkmarks. It affected users with fewer than a million followers. He also introduced encrypted DMs but only for verified users.
Who Is the New CEO?
It remains a mystery. Earlier this year, Musk said that he will look for a new CEO for the platform after users voted for him to leave. He said that he will find a person who will be “foolish enough to take the job.”
So, who will be the next CEO?
Some users want Sheryl Sandberg. She has the reputation with advertisers and connections that Musk requires to start repairing the business. After leaving Meta last year, she is now a free agent.
However, she may not be a good fit considering that the Tesla CEO is not a fan of Facebook. Sandberg, on the other hand, is focused on her philanthropy activities and family life.
Vanessa Pappas may also be a potential new CEO of Twitter. She is currently the COO of TikTok. She has the experience that Musk needs to boost Twitter’s revenue. However, she may not be a good candidate if Musk wants a CEO who knows how to lead Twitter. The reason for this is Vanessa focuses on products and creators.