The well-known social networking site Twitter has revealed that Linda Yaccarino, formerly in charge of NBCUniversal’s advertising sales, will take over as CEO. Elon Musk, who paid $44 billion for the business in October 2022, is stepping aside from his position as CEO in order to concentrate on product design and cutting-edge technology.
Musk shared the information on Twitter and expressed his delight at welcoming Yaccarino, noting that she will be primarily responsible for Twitter’s business. On Madison Avenue, the choice has been warmly applauded; many consider Yaccarino to be a “homerun hire for Twitter.”
Who is Linda Yaccarino?
Yaccarino presided over 2,000 staff members and $13 billion in yearly advertising revenue as the chairman of global advertising and partnerships at NBCUniversal up to her resignation. She has a stellar reputation in the advertising industry and joins Twitter with a Twitter Rolodex brimming with contacts to marketers.
Can Yaccarino Fix Twitter?
Since Musk took over, Twitter’s ad sales have suffered due to widespread layoffs, laxer content moderation, and modifications to the blue-check verification process. Many regard Yaccarino’s hiring as a positive step for the organisation, which has recently been dogged by rumours and controversy. It is anticipated that she will bring the same expertise to Twitter after helping to establish numerous revenue sources, including NBCUniversal’s Peacock streaming service.
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
What’s Next for Musk?
Musk will continue to play a significant role at Twitter as executive chairman and chief technology officer despite stepping down as CEO. Tesla stock, however, fell after the news, indicating investor apprehension over the billionaire’s continued engagement in the business.
The World Economic Forum, which organises the annual Davos conference, has come under fire from Musk. Concerns were addressed by his declaring that Twitter is still dedicated to “open source transparency and accepting a wide range of viewpoints.”