Elon Musk Brings New Female CEO on Board to Run Twitter

The leading social media platform for the crypto industry, Twitter, is about to get a new boss.

On May 12, Twitter CEO and tech billionaire Elon Musk announced that he would be stepping aside.

“Excited to announce that I’ve hired a new CEO for X/Twitter. She will be starting in ~6 weeks!”

Musk added that his role would transition to being executive chair and chief technology officer, overseeing product, software, and sysops.

The speculation wheels started turning with the Wall Street Journal one of the first to have a stab at who she may be.

On May 12, the outlet reported that NBCUniversal’s head of advertising, Linda Yaccarino, is in the front running.  

Linda Yaccarino is the chairman of global advertising and partnerships at NBCU, where she has been for more than a decade.

Will the New Twitter Boss Be As Gung Ho on Crypto?

Yaccarino is a possible pick for the social media CEO role and is among several other candidates. According to reports, she has previously told friends that she aspired to be CEO of Twitter.

According to the WSJ, Yaccarino currently oversees roughly $13 billion in annual ad revenue. Additionally, she is well-known for her tight relationship with marketers and ad agencies. “Ms. Yaccarino has a reputation for hard-nosed negotiating tactics, and media buyers have described her as the ‘velvet hammer,’” the report added.

There is very little connecting Linda Yaccarino with crypto, but Elon Musk is still keen on the digital asset industry. He will likely remain influential from the background.

He has repeatedly tweaked the platform hinting at crypto aspirations. In April, Musk replaced the Twitter logo with the Dogecoin (DOGE) logo causing a surge in prices for the memecoin.

Twitter’s trust and safety efforts lead Ella Irwin is also in the running, according to the Insider.

Elon Musk completed a $44 billion deal for Twitter in October 2022. The advertising executive would be a good fit to lead the company that is currently in dire need of ad revenue.

Crypto Markets Retreat

Digital asset markets have continued their retreat as another week comes to a close. Total capitalization has declined by a further 2.9% on the day, slipping to $1.15 trillion.

Bitcoin has lost around 3% in a fall to $26,677 at the time of writing. Meanwhile, Ethereum had lost 3.3%, falling back to $1,770 during the morning of May 12.