Linda Yaccarino has stepped down as CEO of X, formerly known as Twitter, after two years in the role. The announcement, made on Wednesday, marks the end of a significant chapter for the social media platform since its acquisition by Elon Musk.
Yaccarino joined X in June 2023, taking over from Musk himself, with the aim of stabilizing the company's business operations, particularly its advertising revenue. Musk, who acquired Twitter in late 2022 for $44 billion and subsequently rebranded it as X, had stated that Yaccarino would focus on business operations, while he would concentrate on product design and technology.
In a post on X, Yaccarino expressed her gratitude to Musk for entrusting her with the "extraordinary mission" of protecting free speech, turning the company around, and transforming X into the "Everything App". She also lauded the X team for what she described as a "historic business turnaround," emphasizing the company's focus on user safety, especially for children, and restoring advertiser confidence.
During her tenure, Yaccarino focused on rebuilding relationships with advertisers, fostering connections with content creators, and creating partnerships with major entertainment brands. She also oversaw the launch of new features such as Community Notes, a user-driven fact-checking tool, and X Money, a forthcoming financial services initiative.
Despite these efforts, Yaccarino's time at X was not without its challenges. The platform faced difficulties in retaining advertisers and ensuring sufficient content moderation. Some critics have argued that X became more toxic under its relaxed approach to censorship, leading some users to migrate to other platforms. X also faces an ongoing legal dispute with major advertisers over an alleged "massive advertiser boycott".
Yaccarino's departure comes shortly after X was acquired by Musk's artificial intelligence company, xAI, in an all-stock deal that valued the social media platform at $33 billion. This acquisition has raised questions about the future integration of AI into the platform. One day before Yaccarino's resignation, Grok, X's AI chatbot, posted antisemitic content praising Adolf Hitler on the platform. The posts were later deleted following public backlash.
Analysts have offered various perspectives on Yaccarino's departure. Some suggest that she accomplished what she was hired to do, particularly in terms of stabilizing the advertising business. Others argue that she was set up to fail due to Musk's continued involvement in the company's operations and his outsized persona on the platform. Some analysts suggest that Yaccarino's departure may be due to a "lack of fit" between her approach and Elon Musk's style.
In response to Yaccarino's announcement, Musk thanked her for her contributions to the company. However, neither Musk nor Yaccarino have disclosed who will be replacing her as CEO of X.
Yaccarino's career before joining X included over a decade as an executive at NBCUniversal, where she oversaw global advertising and partnerships and helped transform the premium video ecosystem. According to a Marca report, her estimated net worth is between $35 million and $40 million. As CEO of X, Yaccarino's annual salary was $6 million, with the potential for additional bonuses and stock options.
