Elon Musk has confirmed that the new CEO for Twitter, or X Corp. as it's now called, will be NBCUniversal's Linda Yaccarino, an executive with deep ties to the advertising industry.
He added that Yaccarino "will focus primarily on business operations, while I focus on product design & new technology."
Yaccarino could help restore advertisers' faith in Twitter, ad agency DiGo founder and creative chief Mark DiMassimo said. He noted that Yaccarino successfully integrated and digitized ad sales at Comcast and NBC -- and that her track record of cross-selling ads across different platforms could appeal to Musk as he tries to transform Twitter from a social media company to a bigger media platform.
In mid-November, just a few weeks after buying the social media platform for $44 billion, he told a Delaware court that he does not want to be the CEO of any company. Analysts who follow Twitter's business welcomed the news even without knowing who the replacement will be. Twitter's advertising business has taken a hit under Musk's mercurial rule, though the billionaire told BBC last month that the company is now "roughly" breaking even."The single biggest problem with Twitter's ad business was Elon Musk.
Shares of Tesla rose about 2% Thursday after Musk made the announcement. Shareholders of the electric car company have been concerned about how much of his attention is being spent on Twitter.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk says has found new CEO for TwitterMusk said on Thursday that he has found a new chief executive for the social media platform and that she will be starting in about six weeks
Read more »
Elon Musk says he's found a new CEO for TwitterElon Musk said Thursday he has found a new CEO for Twitter, or X Corp. as it's now called.
Read more »
Elon Musk says he's found a new CEO for TwitterElon Musk said Thursday he has found a new CEO for Twitter, or X Corp. as it's now called. He did not name the person but she will be starting in about six weeks.
Read more »
Elon Musk says he's found a new CEO for TwitterElon Musk said Thursday he has found a new CEO for Twitter, or X Corp. as it\u0027s now called.
Read more »
Elon Musk says he's found a woman to lead Twitter as new CEOMusk, who bought Twitter last fall and has been running it since, has long insisted he is not the company\u0027s permanent CEO
Read more »
There's a new Twitter CEO, but Elon Musk isn't naming her yet | CBC NewsElon Musk said on Thursday he has found a new chief executive for Twitter, but did not name the person, while the Wall Street Journal reported that Comcast NBCUniversal executive Linda Yaccarino was in talks for the job.
Read more »