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 substitute 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 12 months when he first confirmed that he would ultimately step apart. However Musk will nonetheless be the only proprietor of Twitter, and except he sells the corporate — or a controlling share of it — the billionaire remains to be in management.
We don’t know but who will change Musk. Some media insiders have guessed it might be NBCUniversal promoting govt Linda Yaccarino, who has publicly defended Musk and not too long ago 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 function will transition to being exec chair & CTO, overseeing product, software program & sysops.
— Elon Musk (@elonmusk) Might 11, 2023
No matter who replaces Musk, it’s not clear how a lot actual energy the brand new Twitter CEO may have. Even when he follows by with this plan and truly 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 personal firm, Musk has nearly no outdoors accountability from an impartial board of administrators to query his selections.
In a tweet asserting the management change, Musk mentioned he “will transition to being exec chair & CTO, overseeing product, software program & sysops.” These roles nonetheless signify a serious a part of the enterprise’s operations. So whereas Musk may resolve 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 completely at his discretion.
In different phrases, Musk’s critics could also be celebrating on the prospect of a brand new individual in cost at Twitter, nevertheless it’s not assured that something will change, even with somebody new on the high.
“He’s working product and expertise for a 100% software program firm. What’s the CEO in command of: not paying the distributors?” Jason Goldman, Twitter’s former board member and first head of product, advised Vox in a textual content.
Prior to now, Musk has been keen to surrender some energy at his different firms, together with SpaceX and Tesla. Leaders like Gwynne Shotwell, SpaceX’s COO, run the enterprise everyday.
However it might be simpler for Musk to simply accept his limitations in the case of dealing with the everyday of launching rockets into house or constructing automobiles than with Twitter. Musk has described working 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 learn how to run a social media firm. Now, greater than a 12 months 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 accountability 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, may assist. A brand new CEO may assist Twitter’s picture with main advertisers, lots of whom have stop 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 in addition to Musk and his antics. However don’t anticipate Musk to stop Twitter anytime quickly.
