Elon Musk announced on Friday, May 12 that he has found a new Twitter CEO.
Musk has hired Linda Yaccarino from NBCUniversal to take over his role as the CEO of the social media company. On his tweets he shared what her job responsibilities would be at Twitter, mainly to look after business operations, while he would be focusing more on product design and new technology. Working alongside his new Twitter CEO, Musk says he is looking forward to transforming the social media platform into X, the everything app.
Linda Yaccarino is formerly the advertising chief of NBCUniversal who oversaw all market strategy and advertising revenue for the company that totaled almost $10 billion. She joined NBCU in 2011, had over 1,400 employees under her leadership, and has credited with taking the network’s advertising division into the modern, digital era.
Earlier this year, Musk revealed that Twitter suffered a huge decline in ad revenue.
Lou Paskalis, a marketing veteran and CEO of marketing consultancy AJL Advisory, said that under Yaccarino’s leadership, Twitter’s “trajectory will immediately take a 180-degree turn.”
Elon Musk acquired Twitter back in October for $44 billion. He then proceeded to axe thousands of employees, suspended users he strongly disagreed with, and rushed the launch of a subscription product that led to scammers impersonating major brands.
As a result, advertisers have abandoned the platform as they feared their ads might appear alongside unrelated content due to the company losing almost 80% of its staff.
He said, “I think (Yaccarino) has climbed every mountain she could at NBCU and did it impeccably well. And there’s no greater challenge than restoring order at Twitter.”