Elon Musk Announces Linda Yaccarino as Twitter's New CEO

Key Highlights :

1. NBCUniversal's Linda Yaccarino is stepping down from her role as CEO of global advertising and partnerships at the company.

2. Yaccarino is being replaced by Elon Musk, who will transition to being executive chairman and chief technology officer at Twitter.

3. Yaccarino is interviewing Musk on a Miami stage last month in front of hundreds of advertisers.

4. Luring advertisers is critical for Twitter after many fled in the early months after Musk's takeover of the social media platform, fearing harm to their brands.

5. Musk said in late April that advertisers had returned, but provided no details.

6. NBCUniversal's press release did not specify why Yaccarino was leaving the company on Friday, but her departure fueled speculation about her future role at Twitter.

7. Multiple media reports reported early Friday that Musk was “in talks” to hire Yaccarino as CEO. Sources familiar with the matter later confirmed to The Washington Post that Musk had selected Yaccarino to head the social media platform.

8. Musk, who bought Twitter last fall and has been running it since , has long insisted he is not the company’s permanent CEO.

9. The Tesla billionaire said in a tweet Thursday that his role will transition to being Twitter's executive chairman and chief technology officer.

10. In mid-November, just a few weeks after buying the social media platform for $44 billion, he told a Delaware court that he does not want to be the CEO of any company. While testifying, Musk said “I expect to reduce my time at Twitter and find somebody else to run Twitter over time.”

     Elon Musk, the billionaire entrepreneur and CEO of Tesla, has announced Linda Yaccarino as the new CEO of Twitter, or X Corp. as it's now called. Yaccarino, who currently serves as the chairwoman for global advertising and partnerships at NBCUniversal, has deep ties to the advertising industry and is set to take over the helm of Twitter.

     Yaccarino has been with NBCUniversal for nearly 12 years, and prior to that she worked at Turner for almost two decades. She is a veteran executive with extensive experience in the advertising industry, making her a perfect fit for the job of Twitter CEO.

     Musk made the announcement on Thursday, but did not name Yaccarino as the new CEO. On Friday, NBCUniversal confirmed Yaccarino's departure from the company in a press release.

     Yaccarino's appointment as Twitter CEO is seen as a critical move for Musk and Twitter, as the platform has been struggling to win back advertisers who had fled in the early months after Musk's takeover of the social media platform. In late April, Musk said that advertisers had returned, but provided no details.

     According to Musk, his role at Twitter will transition to being executive chairman and chief technology officer. He has long insisted he is not the company's permanent CEO, and in November he told a Delaware court that he does not want to be the CEO of any company.

     Musk's tenure at Twitter's helm has been chaotic, and he's made various promises and proclamations he's backtracked or never followed up on. He began his first day firing the company's top executives, followed by roughly 80% of its staff. He's upended the platform's verification system and has scaled back content moderation and safeguards against the spread of misinformation.

     Analysts who follow Twitter's business welcomed the news of Yaccarino's appointment, with Insider Intelligence analyst Jasmine Enberg saying: “A new CEO is the only way forward for Twitter. The single biggest problem with Twitter’s ad business was Elon Musk. As he steps back, Twitter can begin to unravel Musk’s personal brand from the company’s corporate image and attempt to regain trust among advertisers. The success of those efforts will depend on who takes over, but it’s difficult to imagine that the new CEO could be more controversial or damaging to Twitter’s ad business than Musk has been.”

     Linda Yaccarino's appointment as Twitter CEO is seen as a major turning point for the social media platform, as it looks to rebuild trust and credibility with advertisers and users alike. With her extensive experience in the advertising industry, Yaccarino is well-positioned to lead Twitter into a brighter future.

Continue Reading at Source : nsnews