Elon Musk names Linda Yaccarino as new Twitter CEO
After multiple hours of rumors and media reports, Elon Musk confirmed in a tweet Friday that he has NBCUniversal global advertising chief Linda Yaccarino as the new Twitter CEO.
Yaccarino also announced she has resigned from her current position at NBCUniversal Global to join Twitter as its next chief executive, CNBC reported.
“I am excited to welcome Linda Yaccarino as the new CEO of Twitter! @LindaYacc will focus primarily on business operations, while I focus on product design & new technology. Looking forward to working with Linda to transform this platform into X, the everything app,” Musk said in a tweet.
I am excited to welcome Linda Yaccarino as the new CEO of Twitter!@LindaYacc will focus primarily on business operations, while I focus on product design & new technology.
Looking forward to working with Linda to transform this platform into X, the everything app. https://t.co/TiSJtTWuky
— Elon Musk (@elonmusk) May 12, 2023
The confirmation of her appointment as the new CEO comes a day after Musk said via Twitter there would be a new female CEO of the social media giant, although he didn’t name the new person. Musk said in his tweet the person would start in about six weeks.
Yaccarino joined NBCUniversal in 2011, and over time, climbed the ranks to become the head of the company’s worldwide advertising business. On Monday, Yaccarino was scheduled to participate in NBCUniversal’s Upfront event at Radio City in New York, which is an annual sales presentation made by the company and its peers to the advertising industry in May.
Yaccarino, a veteran advertising executive, brings with him a vast network of relationships with top chief marketing officers and other advertising executives to Twitter. This comes at a crucial time when Twitter has seen a significant loss of advertising revenue, with advertisers fleeing the platform after Musk’s takeover last year.
In October of last year, Musk acquired Twitter for $44 billion and promptly terminated the company’s top leadership and laid off thousands of employees. The platform has seen an increase in offensive speech and rhetoric, as reported by various advocacy groups, which caused many companies to stop their ad spending on Twitter.
In response to this, Musk launched a new subscription service, Twitter Blue, to compensate for the loss of ad revenue. Twitter Blue offers various features such as the ability to compose longer tweets.