2023-05-21 15:06:55
On May 11, Elon Musk announced that he had found a new CEO for Twitter – or X Corp, as the social media company is now called. Elon Musk said the new chief executive would take office in about six weeks.
On May 12, he announced that the new chief executive would be NBCUniversal’s Linda Yaccarino, an executive with strong ties to the industry.
“I’m thrilled to welcome Linda Yaccarino as the new CEO of Twitter,” Musk wrote in a tweet. He added that Ms. Yaccarino “will primarily focus on business operations,” while Mr. Musk will handle product design and new technology.
Earlier today, NBCUniversal said Ms. Yaccarino would step down as president of global and partnerships immediately.
Ms. Yaccarino worked at NBCUniversal for nearly 12 years. His team has generated more than $100 billion in ad sales since 2011, his company bio states.
Last month, she interviewed Mr. Musk on a stage in Miami in front of hundreds of announcers.
Mr. Yaccarino’s connections could be key to Twitter’s future.
Many advertisers left Twitter in the first months after Mr. Musk took office, fearing that the ensuing chaos would damage their brands. In late April, Mr. Musk said advertisers had returned, but offered no details.
Musk bought Twitter last fall and has been running it ever since, making many decisions that were later reversed and making promises that weren’t kept.
From day one, he fired the company’s top executives and then about 80% of his staff. It disrupted the platform’s verification system, reduced content moderation and protection measures against the dissemination of false information.
He has long insisted he will step down as CEO. In December last year he wrote: ‘I will step down as CEO as soon as I find someone crazy enough to take the job.’
Shares of Tesla – of which Mr. Musk is also the CEO – rose about 2% after Mr. Musk announced that he had found a new leader for Twitter. Shareholders of the electric car company have raised concerns about the importance Mr Musk places on the social media business.
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