X CEO Elon Musk’s social media platform revealed on Wednesday that he would step down.
“Two years ago, I chose to resign as CEO of 𝕏,” stated Linda Jaccarino.
Musk replied to her announcement: “Thank you for your contributions.”
The departing CEO remarked, “When @elonmusk and I first discussed his vision for X, I realized that executing this company’s remarkable mission would be a lifelong opportunity. I am truly thankful for his commitment to protecting free speech, revitalizing the company, and allowing me to oversee the transformation of X into all my applications.”
Musk acquired Twitter in 2022 for $44 billion, subsequently rebranding it to X. Before her role at X, Jaccarino held a long-standing position at NBCUniversal, concentrating on advertising and partnerships. In March, Musk’s artificial intelligence firm, Xai, took over the social networking platform.
Throughout her time as CEO, Jaccarino often found herself managing public relations crises and addressing Musk’s contentious behavior. Shortly after her appointment, Musk publicly urged advertisers to exit the platform due to their involvement with anti-Semitic content, claiming they would “harm themselves,” which Jaccarino defended in an interview.
Jaccarino’s own outputs on X typically highlighted a more positive aspect of the platform, featuring significant retweets celebrating celebrity birthdays and events. However, CEOs often revert to damage control, including refusals. Reports from the Wall Street Journal earlier this year indicated that X, under her leadership, took aggressive measures against brands by threatening lawsuits. Under Jaccarino’s stewardship, the company initiated a lawsuit against an advertiser recovering ad spending post-Musk’s acquisition.
Issues on the platform persisted until Jaccarino’s announcement of her departure. The day prior to her resignation, Musk’s chatbot began posting support for controversial topics, leading the company to intervene by tagging the post with “Mecha Hitler” before apologizing for the “inappropriate” tweet.
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Musk has been embroiled in controversy outside of X in recent months. His political rapport with Donald Trump, which emerged during the 2024 campaign, culminated in Musk being designated as a special government employee and the formation of the “Government Efficiency Bureau,” fully disclosed in June. The duo clashed over the U.S. president’s drastic taxation proposals, which Musk deemed as “hate.” The tech mogul has pledged to establish an independent political party aimed at ousting Republican members from Congress who supported the bill. Meanwhile, Tesla, the primary source of Musk’s wealth, has seen its sales plummet in reaction to his political involvement, distancing future buyers and existing owners from the controversial CEO. SpaceX is also struggling with its latest spacecraft, which has failed multiple launches.
Source: www.theguardian.com
