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Former NBC exec Linda Yaccarino named new Twitter CEO, Elon Musk confirms

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Elon Musk has confirmed that NBCUniversal’s Linda Yaccarino, who has deep ties to the advertising industry, will be the new CEO of Twitter (now known as Company X).

“Excited to welcome Linda Yaccarino as Twitter’s new CEO!” Musk wrote in a tweet Friday. He added that Yaccarino will “mainly focus on business operations, while I will focus on product design and new technology.”

Yaccarino has been with NBCUniversal for nearly 12 years, and her team has generated more than $100 billion in ad sales since 2011, according to her company profile. Yaccarino previously served as chairman of NBC’s advertising and client partnerships and president of its cable entertainment and digital ad sales division, according to LinkedIn. Before she joined NBC, Yaccarino worked for the global entertainment company Turner for nearly 20 years.

Yaccarino interviewed Musk on stage in Miami last month in front of hundreds of advertisers.

Attracting advertisers is important for Musk and Twitter after many fled in the months after Musk acquired the social media platform, fearing damage to the brand in the ensuing chaos. Musk said in late April that advertisers were back, without elaborating.

Extensive experience in the advertising industry

Marc DiMassimo, founder and creative chief of ad agency Digo, said Yaccarino could help restore advertisers’ trust in Twitter. Yaccarino’s successful integration and digitization of ad sales for Comcast and NBC, as well as her track record of cross-selling ads across various platforms, helped Twitter transform from a social media company to a larger media platform. He said it could be appealing to Mr. Musk, who is trying to make changes.

“Anyone who can turn Musk’s vision into an advantage for marketers, she can do it,” said DiMassimo. “Even though there is skepticism about Twitter right now and all marketers are in a ‘show me’ state, if she is actually on Twitter, this is a very encouraging move.”

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Musk has long insisted he is not the company’s permanent CEO.tesla billionaire said in a tweet on Thursday His role will transition to Twitter’s executive chairman and chief technology officer.

In mid-November, just weeks after buying the social media platform for $44 billion, he told a Delaware court that he didn’t want to be CEO of any company.

More than a month later, in December, he tweeted, “I will step down as CEO as soon as I find someone stupid enough to take the job.” The pledge comes after millions of Twitter users called on him to step down in a Twitter poll that the billionaire himself made and pledged to abide by.

In February, he said at a conference that he expected to find a San Francisco-based Twitter CEO “probably towards the end of the year.”

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Analysts who follow Twitter’s business welcomed the news, even though they weren’t sure who would replace him. Twitter’s advertising business took a hit under Mr. Musk’s fickle reign, but the billionaire told the BBC last month that the company is now “almost” at breakeven.

“A new CEO is the only way forward for Twitter,” said Jasmine Emberg, an analyst at Insider Intelligence.

“The single biggest problem in Twitter’s advertising business was Elon Musk,” Enberg said. We may try to regain the trust of

“The success of these efforts will depend on who takes over, but it’s hard to imagine that the new CEO could cause more controversy or hurt Twitter’s advertising business than Musk did. .”

Advertising isn’t the only challenge facing Twitter’s new CEO, said Mike Purchs, research director at Forrester Research. After all, Musk has “fundamentally changed” Twitter both as a product and as a community, perhaps for the worst.

“Even though Musk has stepped down from his CEO title, he is unlikely to step down as product manager,” Prux said.

Tesla shares rose about 2% on Thursday after Musk’s announcement. Shareholders of the electric-car company are concerned about how much of his attention is on Twitter.

Last November, Musk was questioned in court about how he divides his time between Tesla and his other companies, including SpaceX and Twitter. Musk had to testify in a Delaware Chance Court trial over shareholder objections to a US compensation plan that could reach $55 billion as CEO of an electric car company.

Musk has said he has no intention of becoming CEO of Tesla, nor does he want to be the CEO of another company, and prefers to see himself as an engineer. Musk also said at the time that Twitter’s restructuring would be completed in the next week or so. About half a year has passed since you said that.

Musk’s time at the helm of Twitter was chaotic, with promises and declarations that were either withdrawn or not kept at all. From day one, he laid off the company’s top executives, followed by about 80% of its workforce. He overturned the platform’s verification system, curtailing content controls and safeguards against the spread of misinformation.

Late last year, Musk teased his Twitter followers by expressing pessimism about the prospects for a new CEO, saying he would “like a lot of pain” running a company “on the fast track to bankruptcy.” It must be,” he said.

“Nobody wants a job that can actually keep Twitter alive. No successor,” Musk tweeted at the time.

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