Twitter owner Ilon Musk said Friday that Linda Iaccarino, who was previously head of advertising at U.S. media corporation NBCUniversal, has become the company’s new CEO.
“I am pleased to welcome Linda Iaccarino as Twitter’s new CEO,” Musk wrote on Twitter.
He added that Iaccarino will focus primarily on business processes, while he himself will focus on “product design and new technology.”
Earlier on Friday, NBCUniversal announced that Linda Iaccarino was leaving her post at the company.
Musk himself had announced the day before that he had found a new head for the social network he bought.
Musk and Iaccarino recently appeared together at a conference in Miami, where they gave a keynote speech entitled “Twitter 2.3: From Conversations to Partnerships.”
Musk bought the microblogging service for $44 billion last year. The deal, announced in April, was not closed until late October after lengthy litigation between the parties.
The owner of the building that houses the headquarters of American Twitter Inc. in San Francisco has sued the company, accusing it of non-payment of rent.
The lawsuit, filed by SRI Nine Market Square LLC, says the site breached its lease agreement in December by failing to pay a monthly rent of about $3.4 million, prompting it to receive a notice of default on its contractual obligations on Dec. 5. The owner of the building received its due amount through a line of credit that Twitter used as a security deposit.
Meanwhile, the company “again breached the lease agreement by failing to pay monthly rent and additional rent under the agreement in January 2023″ of about $3.428 million, the lawsuit notes. SRI Nine Market Square received another $266,000 through a line of credit, so Twitter currently owes $3.16 million.
SRI Nine Market Square wants the company to increase the credit limit to $10 million due to the terms of the agreement, which provide for such an option in the event of a change in its management. In late October, Twitter was acquired by billionaire Elon Musk. The lawsuit says the site refuses to do so.
In addition, the owner of offices in the center of London Crown Estate filed a similar lawsuit, writes MarketWatch. They confirmed that they went to court, but did not specify how much Twitter did not pay.
In December, foreign media reported that the company had stopped paying rent for a number of offices as part of cost-cutting measures after Musk took over. In early January, another landlord in San Francisco sued Twitter.
Twitter management intends to sue Tesla CEO Elon Musk, who announced his refusal to buy the social network, Bret Taylor, chairman of the company’s board of directors, said.
“Twitter’s board of directors is committed to closing the deal at the price and terms agreed with Mr. Musk and plans to take legal action to enforce the merger agreement. We are confident we will prevail in the Delaware court,” Taylor tweeted.
Musk previously notified Twitter that he was pulling out of the purchase deal. “Mr. Musk is terminating the Merger Agreement because Twitter is in material breach of multiple provisions of the Agreement,” a spokesman for the company said in a letter.
