Elon Musk to step down as Twitter CEO as replacement Linda Yaccarino starts work

Elon Musk's reign as Twitter CEO is coming to an end, as his replacement has just started her first week of work.

Linda Yaccarino, who was hired by Musk last month to take over as Twitter CEO, announced she has officially completed her first day on the job.

Earlier today, Ms Yaccarino tweeted: "It happened—first day in the books! Stay tuned…"

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Whether it is her first day as CEO or her first day of a transition period before she takes over is unclear.

Elon Musk meanwhile has not publicly commented on Ms Yaccarino's claim that she has begun working at the company.

However, he no longer has 'Chief Twit' in his Twitter bio, and announced last month that she was poised to take over as Twitter CEO and that she would start around June 22.

In early May, Musk tweeted that a new CEO would start in six weeks' time, saying: "My role will transition to being exec chair & CTO, overseeing product, software & sysops."

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The announcement followed months of trouble at the social media giant since Musk took over.

According to investors at Fidelity, Twitter is now worth roughly two-thirds less than the $44bn Elon Musk paid for it back in October.

After taking over the firm, he sacked around 6,300 staff from the company, reducing the number of employees from 7800 to 1500.

He attributed this to 'cash flow' problems but says he may now try to rehire some of the fired staff.

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