On May 12, the tech world was rocked by the news that Twitter CEO and tech billionaire Elon Musk would be stepping aside. In a tweet, Musk announced that he had hired a new CEO for X/Twitter and would be transitioning to an executive chair and chief technology officer. The announcement set off a flurry of speculation. The Wall Street Journal was among the first to suggest that Linda Yaccarino, NBCUniversal’s head of advertising, was the frontrunner for the position.
Yaccarino is a well-respected executive with over a decade of experience at NBCU. She oversees roughly $13 billion in annual ad revenue and is known for her tight relationships with marketers and ad agencies. While she has very little connection to the crypto world, Musk’s interest in digital assets is well-known, and he is expected to remain influential in the background.
Twitter is in dire need of ad revenue, and Yaccarino’s experience in this area would make her a good fit to lead the company. However, she is not the only candidate in the running. According to the Insider, Ella Irwin, Twitter’s trust and safety lead, is also a possible pick for the social media CEO role.
Meanwhile, total capitalization has declined by a further 2.9% in the digital asset markets, slipping to $1.15 trillion. Bitcoin has lost around 3% in a fall to $26,677, while Ethereum had lost 3.3%, falling back to $1,770 during the morning of May 12.
Despite the uncertain times ahead for Twitter, Musk’s move to executive chair and chief technology officer suggests that he remains committed to the platform. He has repeatedly hinted at his crypto aspirations, even replacing the Twitter logo with the Dogecoin logo in April, causing a surge in prices for the memecoin.
Overall, who will ultimately take the helm at Twitter remains to be see. Yaccarino is a strong candidate with a proven track record in advertising, but Irwin’s experience with trust and safety could also be a valuable asset for the company. For now, the tech world waits with bated breath to see what the future holds for one of the world’s most popular social media platforms.