Elon Musk announced that Linda Yaccarino, a shark in the advertising business, will take over as Twitter’s new CEO. She will focus on the company’s business operations, while Musk will remain responsible for product design and new technology as Twitter’s CTO.
Linda Yaccarino has been hired as Twitter’s CEO
Elon Musk said Thursday he had already appointed a new Twitter CEO. At the time, he did not provide a name. However, a few hours later, on Friday, he announced the name. Musk announced that Linda Yaccarino, the former head of advertising at NBCUniversal, would take over as Twitter’s CEO. NBCUniversal confirmed Friday morning she was leaving the media company.
Musk has been Twitter’s CEO since he bought it in October 2022. He has promised that closer to the end of this year, he will appoint a new CEO, while he himself will focus on his other companies. Even ahead of the expected deadline, Musk appointed a new CEO in just over six months. Yaccarino is due to take office six weeks after the initial announcement, though an exact date has not been specified.
Musk will remain the CTO of Twitter
According to the announcement, Yaccarino will focus on the company’s business operations. She has extensive experience in the advertising business, and can really help significantly in the development of Twitter and its transformation into X, the Everything App. Musk said he will remain in charge of product design and new technology. Thus, he remains Twitter’s CTO.
« I am excited to welcome Linda Yaccarino as the new CEO of Twitter!
Linda Yaccarino will focus primarily on business operations, while I focus on product design & new technology.
Looking forward to working with Linda to transform this platform into X, the everything app. »
Yaccarino has a great track record
Yaccarino has been at NBCU for more than a decade. Most recently, she served as chairman of global advertising and partnerships. She also played a key role in launching the company’s ad-supported streaming service, Peacock.
Yaccarino has a knack for getting things done, leading the projects she manages to succeed. She has experience in both the media and advertising worlds. This can help Twitter rebuild relationships with advertisers, as they trust her.
The impact of Twitter’s changes on Musk’s other companies
While Musk will still be actively engaged in developing Twitter, the appointment of a new CEO will free up a significant portion of his time. Yaccarino will take over the platform’s development and day-to-day operations. Analysts believe the move will be of great benefit.
« This would be a home run hire for Twitter and fit in very well with the overall Twitter strategy and monetization looking ahead, » Wedbush Securities analysts wrote in a report Friday.
The time that would be freed up for Musk would allow him to focus more on his other companies, Tesla and SpaceX. Wedbush analysts rated the move as positive for Tesla stock as it gets rid of « lingering albatross. » Although Musk has been deeply involved in the development of all of his companies, Tesla investors have worried he has not spent enough time developing the company.