Social Media Platform X CEO Shakes Up Inner Circle Amidst Pressure from Owner Elon Musk
ICARO Media Group
In response to mounting pressure from owner Elon Musk to drive sales and reduce costs, Linda Yaccarino, the chief executive of social media platform X, has made significant changes to her inner circle, reports the Financial Times. The shake-up comes as Yaccarino faces the challenge of stabilizing X's financial health.
According to the Financial Times, Yaccarino recently fired Joe Benarroch, her right-hand man and head of business operations and communications. Benarroch, who previously worked at Comcast's NBCUniversal overseeing communication strategy for its advertising and partnerships division, had joined X in June 2023. The decision to dismiss Benarroch was made after tensions between Musk and Yaccarino reached new heights.
To fill the vacant position, the head of global government affairs at X, Nick Pickles, will be taking on Benarroch's responsibilities. The Financial Times also reports that Pickles' role will be expanded to encompass global communications. This restructuring aims to streamline X's operations and enhance its communication strategies in order to meet Musk's demands for increased sales and cost reduction.
Adding to the pressure on Yaccarino, Elon Musk brought in Steve Davis, a trusted ally and CEO of his Boring Company, in April to assess X's finances and performance management. This move further emphasizes Musk's scrutiny of the platform's financial health.
As social media platforms continue to face challenges in a highly competitive market, X confronts the need to navigate turbulent financial waters under increasing pressure from its owner Elon Musk. The reshuffling of Yaccarino's inner circle, including the dismissal of Benarroch and the expanded role for Pickles, suggests a strategy aimed at addressing these challenges head-on. X will inevitably be closely watched in the coming months to assess the impact of these changes and its ability to meet Musk's expectations.