Elon Musk has tapped NBCUniversal advertising sales chief Linda Yaccarino to succeed him as Twitter’s CEO.
“I am excited to welcome Linda Yaccarino as the new CEO of Twitter!,” Musk tweeted Friday morning.
He said Yaccarino will focus primarily on Twitter’s business while he focuses on product design and new technology.
“Looking forward to working with Linda to transform this platform into X, the everything app,” said Musk, who is CEO of Tesla and SpaceX.
Tesla stock tumbled on the news that Musk would maintain a substantial role at Twitter.
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Musk said Thursday that Twitter’s new leader would start in about six weeks and that he would transition to executive chairman and chief technology officer but did not name Yaccarino.
Yaccarino was scheduled to make a sales presentation to the advertising industry Monday before she abruptly stepped down Friday morning.
“It has been an absolute honor to be part of Comcast NBCUniversal and lead the most incredible team,” Yaccarino said in a statement.
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Musk bought Twitter for $44 billion last October. He said he would serve as CEO until he had completed an overhaul of the struggling company.
Who is Linda Yaccarino, Twitter’s new CEO?
Until her resignation Friday, Yaccarino was chairman of global advertising and partnerships at NBCUniversal and oversaw 2,000 employees and $13 billion in annual advertising revenue.
Her appointment as Twitter’s new CEO was well received on Madison Avenue. Respected in the advertising world, she brings to Twitter a resume packed with experience and Rolodex loaded with connections to marketers.
Can Linda Yaccarino fix Twitter?
Twitter’s advertising business has struggled since Musk bought the social media platform six months ago. During his tenure, Musk has overseen mass layoffs, loosened content moderation and changed the blue-check verification system.
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Wedbush Securities analyst Daniel Ives called Yaccarino a “homerun hire for Twitter.”
Yaccarino was instrumental in creating multiple revenue streams including NBCUniversal’s Peacock streaming service.
“There is heavy lifting ahead for Twitter on the digital advertising front as the platform now needs to get back advertisers while monetizing its user base,” Ives said in a research note. “Twitter needs a CEO that can hit the ground running and try to turnaround the Twitter platform with a key 6 to 12 months ahead.”
Twitter may have a new CEO, but Musk isn’t about to cede control. He said Thursday that he would continue to oversee products and software.
Will Twitter change under Yaccarino?
In 2018, Yaccarino was appointed by President Donald Trump to serve a two-year term on his Council on Sports Fitness and Nutrition.
Yaccarino, who also worked with the Biden White House to create a coronavirus vaccine campaign featuring Pope Francis in 2021, has worked with the World Economic Forum, which did not sit well with some of Musk’s followers who expressed concern that Twitter would reverse free speech initiatives and tighten content moderation.
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Musk has criticized the World Economic Forum, which hosts the annual Davos forum. He responded to concerns by tweeting that Twitter remains committed to “open source transparency and accepting a wide range of viewpoints.”
