Tesla (NASDAQ:TSLA) stock is trending and advancing in early trading following indications that Elon Musk, the automaker’s CEO, is close to stepping down from his current role as Twitter’s CEO. Linda Yaccarino, NBCUniversal’s head of advertising, is reportedly negotiating to become the new Twitter CEO.
Let’s take a look at what investors should know about the potential new Twitter CEO.
Musk’s Transition and the Potential New Twitter CEO
Musk stated in a tweet yesterday that a new Twitter CEO would take over for him in about six weeks. Now, rumors are starting to swirl that the leading candidate for CEO is Linda Yaccarino. Here are a few things to know about Yaccarino:
- She is head of advertising at NBC and has worked for the media giant for a decade.
- She led NBC’s partnerships efforts.
- She helped get the company’s streaming service, Peacock, off the ground.
- She has launched alliances with Apple (NASDAQ:AAPL), Snap (NYSE:SNAP) and Twitter.
- According to The Verge, Yaccarino “wants the job” at Twitter.
Musk yesterday tweeted that he had already chosen a new CEO and that she would take over in six weeks, but he did not identify the incoming CEO. In the past, however, Musk has made multiple announcements and promises that did not wind up materializing.
In his tweet, Musk stated that he would remain “executive chair and CIO” at Twitter after the transition, “overseeing product, software & [systems operations].”
There has been some speculation on Twitter since Musk’s announcement that he would remain in charge of Twitter’s content policies, while Yaccarino’s main role would be to increase the platform’s ad revenue.
The automaker’s shares have risen 40% this year, but they’re down 12.6% over the last three months.
On the date of publication, Larry Ramer did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
