Former NBCU Ad Exec Linda Yaccarino Is Twitter’s New CEO

Elon Musk has hired Linda Yaccarino, the former NBCUniversal chairman of global advertising and partnerships, as Twitter’s new CEO, he said in a tweet today (May 12). Yaccarino left her position at NBCUniversal this morning.

Musk teased the news that he selected a new CEO yesterday, and reports suggested Yaccarino was the likely candidate. Reactions from analysts were largely positive. “We believe that this would be a (home run) hire for Twitter and fit in very well to the overall Twitter strategy and monetization looking ahead,” Wedbush Securities analysts Daniel Ives, John Katsingris and Steven Wahrhaftig said in a statement.

Musk will remain at the company as chief technology officer and executive chairman, focusing primarily on product design and new technology, he said on Twitter. As the new “Chief Twit,” which Musk called himself when he bought the company in October, Yaccarino will begin in about six weeks and oversee business operations, he said. In Musk taking a step back from Twitter, his other businesses Tesla and SpaceX will feel the positive effects, according to the Wedbush analysts.

Twitter could benefit from an advertising executive like Yaccarino running its business. The company’s profit relies on advertising and subscriptions, and both revenue streams appear to be floundering. When Musk bought the company, Twitter lost some of its high profile advertisers—including General Motors, General Mills and United Airlines—and their return to Twitter is happening slowly. Musk isn’t totally to blame. The company’s advertising offerings were lacking before he took over. But his Twitter Blue subscription business, a potential answer to the platform’s revenue problems, hasn’t gained the traction necessary to pull Twitter out of the hole. Yaccarino’s preexisting relationships with media buyers and her experience overseeing billions in ad revenue could be advantageous to the social media service.

Author: h0mp4g3

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