Linda Yaccarino is moving on from social media platform X, two years after joining the company, which is owned by billionaire Elon Musk.
Here's what Yaccarino had to say in her farewell, how Musk responded, and what comes next.
What Happened: Yaccarino announced her departure from X on the social media platform Wednesday, which comes as she often played damage control and helped control relations with key advertisers and partners while Musk could sometimes scare them away.
"When Elon Musk and I first spoke of his vision for X, I knew it would be the opportunity of a lifetime to carry out the extraordinary mission of this company. I'm immensely grateful to him for entrusting me with the responsibility of protecting free speech, turning the company around, and transforming X into the Everything App," Yaccarino said in a tweet.
Yaccarino acknowledged her team at X and the "historic business turn around" they accomplished, saying it was "nothing short of remarkable."
The X CEO said restoring advertiser confidence, improving Community Notes and prioritizing the safety of children have been some of the top accomplishments for X in recent years.
Musk acknowledged Yaccarino's departure in a reply to her post.
"Thank you for your consideration," Musk tweeted.
Yaccarino did not announce where she will be headed after she departs from X.
Read Also: X CEO Linda Yaccarino Talks Free Speech, Elon Musk, And Advertising ‘Holy Grail’ At CES
Why It's Important: Yaccarino’s departure could end a strong connection between advertisers and the social media platform. Yaccarino came to X from NBCUniversal where she had a history in advertising and partnerships.
Even when Musk was telling advertisers to leave the platform, Yaccarino was able to keep advertisers or win them back as the voice of reason, often playing damage control during outbursts from Musk.
In November 2023, advertisers urged Yaccarino to step down as Musk endorsed an anti-Semitic post, but she stuck with the platform and defended her boss.
Yaccarino was also vocal in filing lawsuits against advertisers who left the platform, accusing advertising agencies of coordinating boycotts against the social media platform.
The former NBCUniversal executive was also a key player in partnerships, including some between X and professional sports leagues. Yaccarino also helped the social media platform launch podcasts featuring key voices like Khloe Kardashian and a recently announced podcast from tennis champions and sisters Venus Williams and Serena Williams.
Sources told the New York Post that Yaccarino's exit has been in the works for more than a week.
"She got advertisers back and made it profitable again," a source told the Post. "Felt it was time to move on."
What's Next: Yaccarino signaled optimism for X on her way out.
"The best is yet to come as X enters a new chapter with xAI," Yaccarino said in her message.
The X CEO said X Money and more iconic voices bringing new content to the platform are developments to watch in the future.
"X is truly a digital town square for all voices and the world's most powerful culture signal."
Yaccarino said she would be cheering the company on.
Musk is now left with the decision to immediately replace Yaccarino or leave the platform operating without a CEO. The billionaire could also make himself CEO, a role he had after buying the platform and before handing over some responsibilities to Yaccarino.
Betting odds on Polymarket for the next CEO popped up quickly on Wednesday with the following frontrunners:
- Elon Musk: 25%
- David Sacks: 8%
- Jason Calacanis: 8%
- Jack Dorsey: 7%
- Susan Wojcicki: 2%
Sacks and Calacanis are close Musk allies and were previously named as potential CEO candidates years ago. Sacks is currently working in the White House and would need to leave his role.
Dorsey co-founded Twitter, which is now known as X, but hasn't always seen eye to eye with Musk.
Time will tell whether Musk assumes the CEO responsibilities himself or names a successor.
The transition period could prove to be beneficial for X rivals like Meta Platforms (NASDAQ:META), Bluesky and others. Without Yaccarino to keep the peace, Musk could quickly upset users and advertisers, leading to a decline in user metrics.
Tesla Inc. (NASDAQ:TSLA) stock will also be on watch, as a decision on the CEO role by Musk could see shares fall. More time spent at X likely means less time for Musk at Tesla. The billionaire runs multiple companies and has increased his time spent in politics, leaving less time for Tesla and that could be an ongoing trend thanks to this latest news.
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Photo: Anderson Nascimento / Shutterstock.com
