Elon Musk to step down as CEO of Twitter

by time news

2023-05-12 19:06:30

Tectonic movement on Twitter. After a little more than a year after the start of the company’s purchase process by Elon Musk, the billionaire announced this Thursday that he will leave the position of CEO in six weeks. However, in a brief message on his Twitter account, the richest man in the world did not initially specify who would be his replacement.

It was this Friday when he did it. It will be Linda Yaccarino who fills the new role of CEO, focusing above all on business operations. For his part, the also owner of Tesla will focus on product design and new technologies. A whole movement with which she intends, according to her account, to turn Twitter into “X, the application of everything.”

To do this, Musk will continue as executive president and technology manager of a company that he acquired for 44,000 million dollars after a long push and pull of negotiations and whose purchase process, which almost ended up in court, ended in November. The truth is that a month after this purchase, it was Musk himself who asked through the social network if he should continue to own the company. And he lost.

It was a Sunday in December when he surprised with a survey in which he asked if “I should resign as president of Twitter” and assured that he would abide by the results. And the users of his “great social plaza” spoke, or rather voted. 57% of the more than 17 million voters preferred that he leave it, putting the also owner of Tesla, in a compromising situation. Will he really leave office? It is the big question to which at that time there was no answer.

Now he does not stop being the owner but he does give up the reins to a new management. In other words, Musk will not leave the company, but as he already revealed in tweets after the publication of the survey, he will leave it in the hands of a person running a company that, according to himself, is “in the fast lane” towards the bankruptcy since May.

controversial decisions

And it is that Musk’s brief passage through the noble floor of the Twitter offices is full of controversial decisions. It was on October 27 when he entered the headquarters with a sink in his arms, which could be understood as the revolution that he was going to mount.

With that declaration of intent, the movements were not long in coming. The first, and one of the most compromised, were the mass dismissals, through emails, carried out by the company’s management just a few hours after the change in management. Such was the volume that they had to end up reinstating hundreds of workers due to lack of personnel.

But only five days passed from his arrival at the address when he announced that Twitter would charge eight dollars a month for having the account verified, which generated a great deal of dust on the wall of the social network as well as within many companies and advertisers. who saw their blue bird in danger, with which the network distinguishes official accounts. This measure came into force just two weeks ago, which many users criticized as a new twist to the misinformation that reigns on Twitter and the risk involved in ending a way to identify official accounts.

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