Elon Musk on Friday said that he found the new Twitter CEO. The billionaire announced Linda Yaccarino as the new CEO of Twitter.
Linda Yaccarino was the former head of global advertising and partnerships at NBC Universal. She was also the head of advertising and client partnerships at NBC Universal for eight years.
NBC Universal announced on Friday morning that Linda was leaving the company. She had been with NBC Universal for over a decade.
https://twitter.com/elonmusk/status/1657050349608501249?embedable=true
Elon Musk previously said that the new CEO would join in six weeks, and after her joining, he will step down as the CTO of Twitter but still be the executive head. Elon will now oversee products, software & sysops.
Linda had been with NBC Universal for over a decade, and her work was to find and approach advertisers and improve collaboration with them. She was also the key figure in the launch of NBC’s ad-supported streaming service Peacock.
She had previously worked for 19 years at Turner Entertainment and has been credited for increasing the company’s advertisement revenues.
She is the perfect person to become Twitter’s CEO because Twitter is seeing a decline in ad revenues.
Many advertisers like Coca-Cola, Jeep, Merck Unilever and Meta have stopped their ads on Twitter since Elon Musk took over in October 2022 because of many of Musk’s many controversial actions like firing half the Twitter employees, banning journalists, restricting Substack links and introducing paid verification programme.
Elon Musk wants to reduce Twitter’s reliance on advertisers so it can freely support “free speech.” This is also one of the reasons brands are pulling out from Twitter.
Elon Musk is also the CEO of the car manufacturing company Tesla and rocket manufacturer and launcher SpaceX.
Both companies have seen a decline in stocks since Elon became the CEO of Twitter. Investors of both companies have been complaining since October last year that Elon is spending most of his time on Twitter and not focusing on his two main businesses.
Linda has years of experience with advertisers and she can be useful to bring advertisers back to the platform and attract potential advertisers.