"The departure comes as the Elon Musk-led firm faces a continuing wave of senior exits across the company, which was taken over by his artificial intelligence startup xAI in March. Mike Liberatore, xAI's chief financial officer, resigned over the summer after three months on the job, followed shortly by general counsel Robert Keele, who cited family commitments. After less than a year, Mahmoud Reza Banki, the Chief Financial Officer (CFO) at X, announced his departure in early October."
"Musk, the visionary entrepreneur, has long pressed X's advertising executives to increase profits as he invests billions of dollars in chips and infrastructure to create superhuman AI to rival OpenAI and Google's (NASDAQ: GOOG) (NASDAQ: GOOGL) DeepMind. Musk's decision to loosen content moderation guidelines and his advice to marketers who didn't agree with his strategy to " go f*** " themselves have turned off advertisers."
John Nitti departed X after ten months as global head of revenue operations and advertising innovation. Linda Yaccarino resigned in July after two years as CEO, and Nitti and Angela Zepeda alternated handling her responsibilities. The company has experienced multiple senior exits since xAI took control in March, including xAI CFO Mike Liberatore, general counsel Robert Keele, and X CFO Mahmoud Reza Banki. Anthony Armstrong was named CFO of xAI. Advertising relationships weakened after looser content moderation and confrontational remarks to marketers, while heavy investment in chips and infrastructure aims to build AI to rival OpenAI and DeepMind.
Read at Benzinga
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