Elon Musk has chosen a top ad executive to take the day-to-day reins of Twitter, but will stay on at the company.
Elon Musk also announced Twitter will have a new parent company called Corporation X.Elon Musk has chosen top ad executive Linda Yaccarino to take the day-to-day reins of Twitter as he fights to reverse the tide at the struggling platform he bought for $44 billion last year.
Mr Musk on Thursday teased Ms Yaccarino's hiring, saying in a tweet that he had hired a woman to replace him as boss of Twitter and its newly named X Corporation parent, but without revealing the name. Ms Yaccarino will face an uphill battle trying to lure back major advertisers that are afraid of unwanted associations with conspiracy theorists and far-right content makers who Mr Musk encouraged back to Twitter.
In a tweet, Mr Musk said he would remain in charge of design and technology at Twitter, with Ms Yaccarino focusing primarily on business operations and turning Twitter into an "everything app" called X.Musk's history with the letter X goes back to 1999 when he helped created X.com, an online bank that was bought and later morphed into PayPal.
"Yaccarino is exactly what Twitter needs to regain advertiser trust and bring back big brands," said Jasmine Engberg, an analyst for Insider Intelligence.
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