Elon Musk, the current CEO of Twitter, has announced via a tweet that Linda Yaccarino, the former advertising head of NBCUniversal, will take over as the social media platform’s new CEO. This move comes as Twitter aims to turn around a decline in its advertising revenues.
Mr. Musk will retain his active roles as Executive Chairman and Chief Technology Officer. Yaccarino, known for revolutionizing the advertising industry at Comcast Corp’s entertainment and media division, will face a multitude of challenges, including the task of managing a heavily indebted company. After purchasing the social media platform for a staggering $44 billion last year, Musk faced mounting pressure to appoint a new leader for the company and redirect his focus towards his other ventures, including electric car manufacturer Tesla and aerospace company SpaceX.
In October, Elon Musk, the CEO of Tesla, successfully acquired Twitter for $44 billion. In December, he announced his intention to step down as CEO once he found a suitable replacement, jokingly referring to the need for someone “foolish enough to take the job.” However, on Thursday, Musk revealed through a tweet that he had found a new CEO, although he did not mention the person’s name. Sources close to the situation suggest that Musk’s tweet may have expedited the timeline for the individual, Yaccarino, to join Twitter, which would be seen as a positive development for Tesla shareholders.
Linda Yaccarino is an accomplished media executive who has held various leadership positions in the media industry. As of my knowledge cutoff in September 2021, Linda Yaccarino was the Chairman of Advertising and Partnerships at NBCUniversal, a subsidiary of Comcast Corporation. In this role, she oversaw all advertising sales and client partnerships across the company’s vast portfolio of broadcast and cable networks, including NBC, Telemundo, USA Network, and CNBC.
NBCUniversal said that the mother-of-two would step down from her current role as chairman for global advertising and partnerships, which she has held for just over two years. She was described as “a marketer’s leader” by Mark DiMassimo, founder and creative chief of ad agency DiGo, who added: “She understands what marketers need. (sky news)
During her 12 years at NBCUniversal, her team generated more than $100bn (£80bn) in advert sales, according to company notes. (sky news)
Under Yaccarino’s leadership, NBCUniversal’s advertising business experienced significant growth and innovation. She played a crucial role in developing new advertising strategies and approaches, including data-driven advertising initiatives and cross-platform partnerships. Yaccarino was recognized for her contributions and influence in the media industry, earning several prestigious accolades and being named to various influential lists, such as Adweek’s Power List and Forbes’ Most Powerful Women in the World.