Musk tapped Yaccarino to replace him as CEO in 2023, shortly after purchasing the platform, then called Twitter, for $44 billion in October 2022. He said Yaccarino would focus primarily on Twitter's business while he focused on product design and new technology.

Musk hired Yaccarino, a veteran ad executive, in May 2023 after buying Twitter for $44 billion in late 2022 and cutting most of its staff.