Elon Musk has announced that Linda Yaccarino, the former head of ad sales for NBCUniversal, will be the new CEO of Twitter. Musk had previously teased the announcement on his Twitter account, stating that he had hired a new CEO for X/Twitter and that he would transition to the role of executive chairman and CTO. Yaccarino’s appointment is seen as a move to rebuild relationships with Twitter advertisers, given that many of the platform’s top advertisers fled the service after Musk acquired it and relaxed content moderation oversight. Yaccarino is well respected in the advertising industry and has a long rapport with important figures within the industry.[0]
Initial indications suggest that Yaccarino shares Musk’s perspective on Twitter being a platform for free speech.[1] During an event in Miami Beach where they were featured keynote speakers discussing Twitter 2.0 and “what the future holds for marketers on the platform,” Yaccarino praised Musk as being “committed to being accessible to everyone for continual feedback” on Twitter and appeared to agree with Musk’s “freedom of speech” take on content moderation.[2]
Yaccarino’s appointment has caused concern among some Twitter users, who fear that she may “return Twitter to its old ways or tamp down on Musk’s free-speech initiatives.” However, her past public comments have shown seeming approval of Musk’s leadership style, and her Twitter bio states that she is “driven by industry progress, inspired by provocative leadership.”[2]
Yaccarino’s expertise in brand safety and commercial partnerships could assuage the big businesses that have frozen their ad buys on the platform since Musk’s acquisition.[3] The appointment comes months after Musk pledged in December to step down as the head of Twitter as soon as he found someone “foolish enough to take the job.”
In the short term, Twitter should prioritize the preservation of positive relationships with its advertisers for the sake of maintaining overall health.[1] Following Musk’s acquisition, over 50% of the top 1,000 advertisers on Twitter reduced or ceased their advertising on the platform.[4] The financial results of the company will be primarily influenced by advertising revenue.[1] Recent data from market intelligence firm Sensor Tower shows that many of Twitter’s top 100 advertisers before Musk took the reins are still estranged from the platform, and Yaccarino would face “immediate challenges” in wooing them back.[2]
Yaccarino’s departure from NBCUniversal to Twitter was a surprise, but she had been close with the company and its billionaire owner.[5] In April, she had a conversation with Musk during an advertising industry event, and more recently, she revealed a new agreement to feature content from the Paris Olympics on Twitter.[5]
Musk’s search for Twitter’s next CEO started in December last year when he tweeted that he would step down as soon as he found someone “foolish enough to take the job.” There were doubts among many regarding Musk’s willingness to relinquish control of Twitter, and according to several sources, it is doubtful that much will change even after Yaccarino takes charge. It is probable that Musk will retain ultimate control over the platform, and Yaccarino may have to skillfully maneuver around Musk’s capricious tendencies, which were rumored to have caused previous Twitter executives to depart from the company.[2]
Musk’s divided attention on Twitter has also raised questions about how it has affected his other companies, such as Tesla, SpaceX, Neuralink, and The Boring Company.[6] Some investors in Tesla have urged him to step back from Twitter, citing concerns that Musk was too distracted by running Twitter and that he should redirect his time to steering the electric vehicle company.[7] However, Tesla’s shares have rebounded this year, jumping 59%.[4]
In conclusion, Yaccarino’s appointment as the new CEO of Twitter is seen as a move to rebuild relationships with Twitter advertisers, given that many of the platform’s top advertisers fled the service after Musk acquired it and relaxed content moderation oversight. While some Twitter users have expressed concern about Yaccarino’s appointment, her expertise in brand safety and commercial partnerships could assuage the big businesses that have frozen their ad buys on the platform. It is probable that Musk will retain ultimate control over the platform, and Yaccarino may have to skillfully maneuver around Musk’s capricious tendencies, which were rumored to have caused previous Twitter executives to depart from the company.[2]
0. “Twitter CEO already has a parody account that’s ‘suspended’ Elon Musk” Business Insider, 13 May. 2023, https://www.businessinsider.com/twitter-ceo-linda-yaccarino-parody-account-suspended-elon-musk-2023-5
1. “Twitter’s New CEO Will Serve a Constituency of One” Barron’s, 12 May. 2023, https://www.barrons.com/articles/twitter-ceo-musk-yaccarino-1b24a70e
2. “Right-wing Twitter worried Musk’s CEO pick could return Twitter to its roots” Ars Technica, 12 May. 2023, https://arstechnica.com/tech-policy/2023/05/twitter-users-fear-new-ceo-will-end-musks-commitment-to-free-speech-on-platform
3. “Twitter Finally Agrees On Something: Hating Musk’s New CEO” Yahoo Entertainment, 12 May. 2023, https://www.yahoo.com/entertainment/twitter-finally-agrees-something-hating-194254328.html
4. “Elon Musk says he’s found “a new CEO” for Twitter. It’s said to be NBCU’s Linda Yaccarino.” CBS News, 12 May. 2023, https://www.cbsnews.com/news/elon-musk-announces-new-ceo-twitter-linda-yaccarino/
5. “NBCU Is in an Ads Crisis Over Linda Yaccarino’s New Twitter CEO Gig” Business Insider, 12 May. 2023, https://www.businessinsider.com/nbcuniversal-elon-musk-ad-boss-linda-yaccarino-twitter-ceo-2023-5
6. “Twitter has a new mystery CEO” The Verge, 11 May. 2023, https://www.theverge.com/2023/5/11/23517090/elon-musk-twitter-ceo-replacement
7. “NBCUniversal ad chief Linda Yaccarino in talks to succeed Elon Musk as Twitter CEO” CNBC, 11 May. 2023, https://www.cnbc.com/2023/05/11/elon-musk-says-hes-stepping-down-as-twitter-ceo-will-oversee-product.html