Elon Musk simply introduced that, in six weeks, he’s stepping down because the CEO of Twitter. However in case you assume which means the Elon-Twitter story is over, don’t maintain your breath.
Musk introduced on Thursday that he has chosen his alternative because the chief govt of Twitter and its mum or dad firm, X, and that she can be beginning in about six weeks. That is probably the most concrete timeline he’s made about his succession plan since December of final yr when he first confirmed that he would ultimately step apart. However Musk will nonetheless be the only proprietor of Twitter, and until he sells the corporate — or a controlling share of it — the billionaire remains to be in management.
We don’t know but who will substitute Musk. Some media insiders have guessed it could possibly be NBCUniversal promoting govt Linda Yaccarino, who has publicly defended Musk and lately interviewed him at a main promoting convention. Yaccarino didn’t reply to a request for remark. At this level, it’s nonetheless anybody’s guess.
Excited to announce that I’ve employed a brand new CEO for X/Twitter. She can be beginning in ~6 weeks!
My position will transition to being exec chair & CTO, overseeing product, software program & sysops.
— Elon Musk (@elonmusk) Could 11, 2023
No matter who replaces Musk, it’s not clear how a lot actual energy the brand new Twitter CEO might have. Even when he follows by with this plan and really offers up his job as CEO — this isn’t in any respect assured to occur till it occurs — Musk’s possession of Twitter means he can basically rent or fireplace a brand new CEO as he pleases. Since Twitter is now a non-public firm, Musk has nearly no exterior accountability from an unbiased board of administrators to query his choices.
In a tweet saying the management change, Musk mentioned he “will transition to being exec chair & CTO, overseeing product, software program & sysops.” These roles nonetheless symbolize a serious a part of the enterprise’s operations. So whereas Musk might determine to present a brand new CEO management over some elements of Twitter’s day-to-day enterprise, simply how a lot management he offers up is solely at his discretion.
In different phrases, Musk’s critics could also be celebrating on the prospect of a brand new particular person in cost at Twitter, nevertheless it’s not assured that something will change, even with somebody new on the prime.
“He’s operating product and know-how for a 100% software program firm. What’s the CEO accountable for: not paying the distributors?” Jason Goldman, Twitter’s former board member and first head of product, instructed Vox in a textual content.
Up to now, Musk has been prepared to surrender some energy at his different firms, together with SpaceX and Tesla. Leaders like Gwynne Shotwell, SpaceX’s COO, run the enterprise each day.
However it might be simpler for Musk to just accept his limitations in the case of dealing with the each day of launching rockets into area or constructing automobiles than with Twitter. Musk has described operating Twitter, whereas a “painful expertise,” to be a comparatively simpler problem — and one he thinks he can grasp by eliminating bots, including extra paid content material, and permitting a wider vary of voices on the platform. And whether or not you agree along with his “free speech extremist” values or not, it’s clear that Musk has robust opinions about how one can run a social media firm. Now, greater than a yr after his preliminary bid to purchase Twitter, Musk has given no indication that that’s modified.
So if Musk isn’t prepared to surrender energy at Twitter, why choose a brand new CEO?
One job duty Musk didn’t say he’d proceed to steer is promoting — an space the place he’s struggled and the place a seasoned advert govt, like Yaccarino, might assist. A brand new CEO might assist Twitter’s picture with main advertisers, lots of whom have give up or in the reduction of from the platform due to Musk’s perceived volatility.
A brand new CEO would put a brand new face to Twitter’s model, and draw consideration to somebody moreover Musk and his antics. However don’t anticipate Musk to give up Twitter anytime quickly.
