Twitter owner Elon Musk has finally appointed a new CEO of the micro-blogging platform, Linda Yaccarino, a former NBCUniversal advertising executive to focus primarily on business operations,
Announcing her appointment via a tweet, Musk wrote,
“I am excited to welcome Linda Yaccarino as the new CEO of Twitter! Linda 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”.
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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
Linda’s appointment is coming after Musk had earlier tweeted that he had hired a new CEO for X/Twitter who will be starting in 6 weeks. He disclosed that his role will transition to being exec chair & CTO, overseeing product, software & sysops.
Linda Yaccarino in a statement on Friday announced her departure from NBCUniversal as she is set to resume the CEO position at Twitter.
She wrote, “It has been an absolute honor to be part of Comcast NBCUniversal and lead the most incredible team. We have transformed our company and the entire industry, and I am proud of what we have accomplished together and grateful to my colleagues and mentors, especially Brain Roberts, Mike Cavanagh, and the entire NBCU leadership team”.
Linda Yaccarino is an American female business personality, who has spent her entire career in the media, notably at NBCUniversal, where she has held senior advertising positions for ten years. She helped oversee the launch of NBC Peacock and advocated for the modernization of ad measurement technologies. She is also credited with helping NBC forge non-traditional partnerships with companies like Apple, YouTube, Snapchat,
As Chairman of Global Advertising and partnerships, Yaccarino is responsible for over $10 billion in revenue annually and stewarding the company’s industry-leading portfolio of linear networks, distribution partnerships, digital platforms, and client relationships. Her entrepreneurial energy coupled with her record for delivering growth has helped her connect established and emerging brands in every industry with millions of viewers.
Netizens believe that Yaccarino’s appointment as CEO of Twitter could have significance on the platform, as it relies heavily on advertising to generate revenue, and Yaccarino’s extensive experience in this area could turn things around and help the company become more profitable.
Also, several analysts are quite ecstatic about Musk stepping down from the CEO of Twitter, as they disclosed that it will give him more time to focus on other things.
An analyst with Wedbush, Dan Ives wrote, “We believe Musk leaving CEO of Twitter earlier than originally thought is a positive development for Tesla as well as spaced with Musk needing to spend more and more time on these golden child platforms rather than Twitter”.
Recall that Tesla stock plummeted since Elon Musk took over Twitter, falling more than 45% in about two months. This occurred after some analysts and major investors criticized Musk over a perceived lack of focus on Tesla, saying the company needs leadership as it contends with an adverse business environment.
Musk responded by stating that he will resign as head of Twitter when the company identifies a successor. His step down from the CEO position might possibly lead to a surge in the stock of Tesla.