Simon Ateba is Chief White House Correspondent for Today News Africa covering President Joe Biden, Vice President Kamala Harris, U.S. government, UN, IMF, World Bank and other financial and international institutions in Washington and New York.
In a significant development for Twitter, Linda Yaccarino, the former head of advertising at NBCUniversal, has been appointed the new CEO of the social media giant. Following her appointment, Yaccarino took to Twitter to express her enthusiasm and commitment to the future of the platform, also calling for user feedback to shape the platform’s future.
“Thank you @elonmusk! I’ve long been inspired by your vision to create a brighter future. I’m excited to help bring this vision to Twitter and transform this business together!” Yaccarino tweeted on Saturday evening. She continued, “I see I have some new followers… I’m not as prolific as @elonmusk (yet!), but I’m just as committed to the future of this platform. Your feedback is VITAL to that future. I’m here for all of it. Let’s keep the conversation going and build Twitter 2.0 together!”
Yaccarino’s appointment was announced on Friday by Twitter’s owner, Elon Musk, who said in a tweet, “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.”
This news comes in the wake of Yaccarino’s resignation from NBCUniversal, where she served as the Global Chairman of Global Advertising and Partnerships. The announcement sparked intrigue as it followed Musk’s cryptic tweet hinting at the hiring of a woman for the CEO position. Speculations about Yaccarino’s role in Twitter were further fueled by a recent interview conducted with Musk at an advertising event in Miami.
Yaccarino’s role as CEO comes at a challenging time for Twitter, with a notable downturn in the platform’s advertising business being a prominent issue. Despite advertising historically serving as the main revenue source for Twitter, the platform has faced a significant decline in this area. This is further compounded by annual debt payments of around $1.5 billion resulting from Musk’s $44 billion acquisition of Twitter.
Moreover, advertisers have expressed concerns over Musk’s relaxed stance on content moderation on Twitter, leading to IPG, one of the world’s largest advertising companies, advising its clients to temporarily suspend ad spending on Twitter due to potential associations with toxic or inappropriate content.
However, in a recent interview with the BBC, Musk stated that the majority of Twitter’s advertisers have returned, suggesting a potential upturn.
Yaccarino brings to Twitter a wealth of experience and industry connections, given her successful tenure at NBCUniversal. She has established relationships with numerous CEOs of advertising holding companies, driven advertising sales to exceed $100 billion, and led significant marketing partnerships. Yaccarino is also a regular at esteemed advertising events, including the Cannes Lions festival.
As Yaccarino assumes her role as CEO, she will play a crucial part in transforming Twitter’s future, addressing the platform’s challenges, and potentially spearheading its recovery in the advertising sector.