Twitter’s New CEO Linda To Musk: Inspired By Your Vision

On Saturday, Linda Yaccarino, the newly appointed CEO of Twitter, conveyed her enthusiasm for the opportunity to contribute to the platform’s metamorphosis and emphasized the motivating influence of owner Elon Musk’s vision for a brighter tomorrow.

This marked Yaccarino’s inaugural public declaration since news broke on Thursday regarding her talks to replace Jack Dorsey as Twitter‘s CEO. Yaccarino proclaimed in a tweet over the weekend, “I have consistently been galvanized by [Musk’s] aspiration to construct a superior future. I am excited to collaborate with Twitter to enhance the company and fulfil this aspiration.”

Since Elon Musk took over as the head of Twitter in October 2022, the social media platform has witnessed a period of considerable instability under his leadership. Musk has introduced several changes, both internal and external, to the micro-blogging service, with mixed results. For instance, in a bid to cut costs, Musk carried out a major restructuring exercise that saw him lay off approximately 80% of the workforce and curtail employee benefits. Additionally, when Musk launched Twitter Blue, a premium version of the platform, many users who had previously been granted the highly sought-after verification badge lost their blue ticks, causing widespread consternation.

Both Twitter employees and users have voiced concerns about Musk’s management style, citing the lack of transparency and poor communication as major issues. In fact, Musk himself admitted earlier this year that the company had suffered significant revenue losses, forcing Twitter to explore new ways to generate revenue through advertising. Despite the challenges, Twitter remains a popular platform, and many users continue to rely on it for news, entertainment, and communication.

In December, Musk pledged to appoint a fresh CEO for Twitter after he asked his Twitter followers if he should relinquish his position. The news of a forthcoming leadership transition at Twitter ignited broad curiosity and conjecture regarding the identity of the chosen successor.

In a recent disclosure, it was revealed that Linda Yaccarino, a highly-regarded figure in the advertising industry, will assume the role in a matter of weeks. Yaccarino’s appointment is expected to have a positive impact on Twitter’s advertising revenue, owing to her expertise in the field. Although the news has been made public since Friday, Yaccarino has yet to make any public statements regarding her upcoming position.

Twitter’s leadership has been tumultuous since Elon Musk took the helm in October 2022. Changes, both internal and external, have been implemented on the micro-blogging platform. To cut costs, Musk eliminated approximately 80% of the workforce and reduced employee benefits.

Additionally, the creation of Twitter Blue resulted in the loss of the blue verification badges for users who had previously received them. Musk’s management style has faced criticism from employees and Twitter users alike. This year, Musk announced a significant revenue loss for the company, prompting Twitter to prioritize ad revenue growth.

Although Musk stated that Yaccarino would contribute to the development of an “everything app,” which could include services like peer-to-peer payments, his choice of an advertising industry veteran suggests that digital ads would continue to be the company’s primary focus.

At Comcast Corp’s NBCUniversal, Linda Yaccarino had a leadership role in the advertising department. Her responsibilities included overseeing the direction of advertising sales and promoting revenue growth for all of NBCUniversal’s assets across various platforms, such as broadcast, cable, and digital. Prior to joining NBCUniversal, she held several positions at Turner Broadcasting System, including Executive Vice President of Ad Sales and Marketing.

Forbes recognized Yaccarino as one of the most influential women in the media industry for her contributions to NBCUniversal. Her efforts in adopting new technology and developing innovative ad formats are attributed to transforming the company’s advertising business. Yaccarino has also been an ardent advocate for promoting diversity and inclusion in media.

Yaccarino obtained a degree in Marketing and Management, earning a Bachelor of Science from the State University of New York at Plattsburgh. Recent findings from market research company Sensor Tower indicate that the top 50 marketers on Twitter spent a total of $83 million in the past two months, a decrease from the $102 million spent during the same period last year.

Insider Intelligence, another research firm, has revised its forecast for Twitter’s global ad revenue for this year, projecting a 37% decrease to $2.98 billion. This revision comes as a surprise and could lead to a 28% decline in Twitter’s projected ad income of $4.14 billion for the year 2022.

As per The Wall Street Journal’s report, NBCUniversal’s seasoned negotiator, Linda Yaccarino, has garnered the nickname “Velvet Hammer” for her pleasant demeanour paired with her fierce and persistent bargaining strategies.

However, the company’s workforce drastically dwindled from 7,500 to around 1,000 after it came under Elon Musk’s ownership, and advertisers ceased investing in Twitter. Presently, Yaccarino holds a position of authority in the company. Despite this, she recently interviewed the billionaire entrepreneur at an advertising convention, citing her longstanding admiration for him.

Yaccarino commended Musk’s diligence and quipped, “Man, I finally met my match.” Outside of standard business hours, Insider reached out to both Musk and Yaccarino for their comments, but neither responded immediately. Twitter’s automated response to Insider’s request for comment evaded the topic at hand.

Proofread & Published By Naveenika Chauhan