Twitter Chief Elon Musk to Pass on Mantle to New CEO, Takes CTO Role

Elon Musk announced that he has found a new leader for Twitter and will shift into a new role as chief technologist.

While Musk is yet to name his successor, reports suggest that NBC Universal executive Linda Yaccarino could potentially replace him as the new leader of the microblogging platform.

• In a tweet on May 11th, Musk said the company’s new CEO will start in about six weeks.

“Excited to announce that I’ve 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.”

• Other rumors suggest that former Meta COO Sheryl Sandberg could also lead the firm.
• Since the controversial takeover of Twitter in a $44 billion deal last year, Musk carried out several changes to the platform, including announcing the end of the old verified program and instead introducing a new paid version.
• The buyout of Twitter was expected to be instrumental for the digital asset industry with integrations of crypto and blockchain features into the social media platform. However, not much has transpired in the last six months since the acquisition.
• Musk’s decision to file for Twitter to become a financial services company did spark speculation of crypto payment integration. However, these efforts appeared to have taken a backseat.
• In April, Twitter briefly changed its iconic bluebird logo to the Shiba Inu mascot used by Dogecoin (DOGE), which Musk has been vocal about supporting.
• Twitter was also reportedly developing a payments platform that could eventually accommodate digital assets.