In June 2022, Twitter named veteran advertising executive Linda Yaccarino as its new CEO. However, despite this change in leadership, Tesla CEO and Twitter owner Elon Musk remains the dominant force at the social media company. Musk continues to exert strong influence over Twitter’s direction and strategy even after stepping down as CEO.
This dynamic was evident during a recent Twitter meeting, the transcript of which was published by The Verge. During the meeting, Musk spoke substantially more than Yaccarino, speaking 3,735 words compared to his 1,833 words. Musk also talked about his broad vision of Twitter becoming an “app for everything,” while Yaccarino’s questions focused more on specific details about features like dating.
Neither Musk nor Yaccarino were physically present at Twitter headquarters in San Francisco during this meeting. Yaccarino has kept a low public profile in recent months, canceling appearances at high-profile tech conferences after a poorly received interview in September 2022.
Meanwhile, Musk continues to unilaterally announce major changes to Twitter, such as restoring previously banned accounts and seeking to develop new features outside of Yaccarino’s purview.
Yaccarino hired to restore advertising revenue, but Musk remains in control
Industry analysts note that Yaccarino’s experience leading global advertising at NBCUniversal likely made her an attractive CEO candidate for Twitter’s board. Her appointment may have signaled an intention to rebuild Twitter’s damaged relationship with advertisers, who account for 90% of its revenue.
However, Elon Musk’s tight control over Twitter has likely hampered Yaccarino’s efforts on this front. Musk’s decisions, such as firing Twitter’s entire trust and safety team responsible for content moderation, have continued to drive away advertisers.
Projections indicate that Twitter’s advertising revenue could fall more than 50% in 2022 under Musk. However, the CEO has minimal authority to implement the changes necessary to bring advertisers back, and Musk is still heavily involved in Twitter’s operations and strategy.
Experts say that to be successful, a new CEO in times of crisis needs the autonomy to quickly make impactful changes. However, Musk’s refusal to give up control of Twitter makes it difficult for Yaccarino to fulfill his primary mission.
You may be interested: Elon Musk’s new artificial intelligence robot “Grok” generates controversy in the initial testing stage
Musk’s continued influence limits Yaccarino’s power as CEO
To further complicate matters, Musk has retained the roles of Head of Twit and executive chairman of Twitter’s board of directors, meaning Yaccarino’s boss is also his direct report. Experts say this dual-role structure severely limits Yaccarino’s actual control as CEO.
Additionally, Musk’s rebranding of Twitter to “X” in July 2022 discarded the platform’s globally recognized name and brand value. Such a dramatic move without input from the CEO suggests that Musk is still making the decisions unilaterally.
According to leadership researchers, new crisis CEOs cannot succeed without the freedom to make transformative changes. Unfortunately, Musk’s continued prominence on Twitter means Yaccarino lacks the decision-making power typically afforded to the CEO role.
Instead of empowering his hand-picked CEO, Musk continues to dominate Twitter feeds and overhaul its features based on his personal prerogative. Despite naming Yaccarino in June, Musk shows little sign of stepping back and allowing him to truly lead Twitter.
The months since Yaccarino’s appointment have seen continued struggles in Twitter. Without greater empowerment from Musk, Yaccarino faces severe limitations in his ability to improve the company’s fortunes. All evidence suggests that Elon Musk remains the primary force shaping Twitter’s direction, despite the change in CEO.
Subscribe to our latest newsletter
To read our exclusive content, register now. $5/Monthly, $50/Yearly
Categories: Technology
Source: vtt.edu.vn