Linda Yaccarino is leaving X

Let's be perfectly clear, given the ownership and board structure https://www.sec.gov/Archives/edgar/data/1418091/000119312522... , the CEO of Twitter is a figurehead.

I don't understand your comment at all:

1. What is the relevance of posting that years old 8-K about Twitter? The corporate structure is totally different now, with xAI having acquired X Corp in March.

2. Regardless of that, X is a private company with a hired CEO (by "hired CEO" I mean as opposed to a founder CEO or family CEO). There are tons and tons of companies like this, and most of them have active, traditional CEOs. The ownership and board structure of X isn't the thing that implies that the CEO is a figurehead - I'd argue Musk's megalomania is what does that.

Did you read the section regarding the merger requirements which is quite unusual and reveals the level of control of Musk et. al (X Holdings)? This is why I brought up that particular 8k.

The ownership and board structure serve as de facto evidence of control by Musk.

There really aren't any other companies (notably in the social media sector) that have this ownership structure. Hilariously enough, by board structure and stock ownership, Trump has less control over Truth Social.

Yes, owners of companies obviously control them.

That doesn't make the CEO a figurehead.

There isn't a company in existence where the (hired) CEO has more power than the person who owns the company.