Elon Musk has announced that Linda Yaccarino, former head of advertising at NBCUniversal (CMCSA), has been appointed as the new chief executive officer of Twitter. This comes as Musk steps down from the top job at the social media giant, which he acquired for $44 billion in October 2021. He had previously indicated that his time as CEO would be temporary. Musk made the official announcement, revealing that 60-year-old Yaccarino will focus primarily on business operations, while he focuses on product design and new technology.
Yaccarino is set to become the face of Twitter 2.0, Musk’s proposed revamp of the social network, reports say. Musk’s ambitions for Twitter are to transform it into an all-purpose platform that incorporates messaging, payments, and commerce, which he has dubbed “X, the everything app.”
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The appointment is expected to bring a tight relationship with marketers and ad agencies to Twitter at a moment of high tensions between Musk and advertisers over his decision to relax content moderation.
The hiring has been well received by analysts. Although Yaccarino is less experienced, experts point out that Musk will continue to oversee technical and product activities. There have been several outages while Musk has been CEO of Twitter, although he has been working to increase the service’s capabilities in areas like payments. Musk may give up the CEO title, but he will not stop making product decisions, according to Mike Proulx, director of Forrester Research.
In his six months as CEO, Musk has made significant changes, reducing the headcount by about 90% and going on a cost-cutting push. He has also announced several new features in recent weeks, including encrypted messaging. Musk will focus on the roles of Twitter’s executive chair and chief technology officer, and will oversee product, software, and systems operations.
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Twitter investors and bankers have been keen for Musk to select new management as soon as possible. Yaccarino, a well-regarded advertising executive, is expected to rebuild trust with brands. Her appointment also comes just days before NBCUniversal’s annual “upfronts” presentation, which is the biggest event of the year in television advertising. Yaccarino, who had been rumored as a candidate to take over as CEO of NBCUniversal after the departure of Jeff Shell last month, said on Friday that it had been an absolute honor to be part of Comcast NBCUniversal.
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