@LindaYacc will focus primarily on business operations, while I focus on product design & new technology, Musk wrote in a tweet Friday. Looking forward to working with Linda to transform this platform into X, the everything app.
I am excited to welcome Linda Yaccarino as the new CEO of Twitter!@LindaYacc 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. https://t.co/TiSJtTWuky
Elon Musk (@elonmusk) May 12, 2023
Rumors that Yaccarino was Musks chosen successor had been swirling since he announced he would be stepping down as CEO yesterday. Journalist and Musk watcher Kara Swisher described her as Twitters likely new CEO, describing her on Thursday as early to tech focus for a media exec, which was unusual at the time and she was constantly trying to grok it, despite wariness.
Yaccarino most recently led the global advertising and partnerships division at NBC Universal, managing a staff of around 2,000 employees, and has been part of the media giant for over a decade. She was also reportedly among the candidates being considered to lead Univision and Paramount Global.
Her twitter profile describes her as inspired by provocative leadership, something that has certainly been a hallmark of Musks reign at Twitter. She has posted about 1,200 tweets on her own Twitter timeline, a notable difference from Musks tendency to tweet constantly and at all hours.
Clips of a video of Yaccarino interviewing Musk at an NBC event about the future of marketing started making the rounds on social media yesterday after Musk announced that he had chosen a successor for his CEO role. In it, she complimented Musk on his vision for Twitter, and urged him to refrain from posting anything after 3 a.m.
Musk responded that he would try, but that he could not be influenced.
The choice of Yaccarino is particularly significant in terms of the number of advertisers that Twitter has lost since Musk took over. Since Musk bought Twitter for $44 billion in October, the companys ad sales have plunged. Between February and March of 2023, the top 10 advertisers of Twitter spent 89% less than they did last September and October, according to data firm SensorTower cited by Bloomberg. Its revenue from advertising is estimated to be $2.98 billion in 2023 down 28% from the previous year, according to research firm Insider Intelligence, Reuters reported in April.
As Yaccarino takes the reins at Twitter, experts have raised concerns over how much authority she will truly have at the social media company while working alongside the Tesla and SpaceX chief.
She might tactically be called CEO because Musk promised to step down after losing a Twitter vote, but in reality, she will only ever be the Twitter COO for Musk, at worse, Musks Executive PA, Richard Hillgrovee, founder of public relations firm 6Hillgrove PR, told Fortune.
This is a developing story and will be updated.
