As he battles to turn things around at the faltering network he purchased for $44 billion last year, Elon Musk opted for top ad executive Linda Yaccarino to seize the daily reins of Twitter.
Yaccarino, a well-known advertising executive, left NBCUniversal “effectively immediately” on Friday amid rumors that she will succeed the erratic entrepreneur as CEO of Twitter.
After Musk’s contentious takeover, which saw him dismiss hundreds of employees and reintroduce far-right and controversial characters to the network, scaring away its best paying advertisers, Twitter is having trouble regaining its footing.
Musk hinted at Yaccarino’s employment on Thursday by claiming in a tweet that he had appointed a woman to succeed him as the head of Twitter and its parent company, the newly titled X Corporation, but he would not give her name.
A few weeks after interviewing Musk at a marketing conference in Miami, Yaccarino left the business that controls NBC, Universal, and Telemundo, where she had worked since 2011.
When Linda Yaccarino asked Musk at the time how things had been doing since the purchase, Musk responded, “It’s going nicely…It is enjoyable. Sometimes it’s a trainwreck.
Linda Yaccarino, one of the most reputable executives in the advertising sector, will have a difficult time persuading significant corporations to return to the platform.
Musk stated in a tweet that Linda Yaccarino will be primarily responsible for commercial operations and developing Twitter into the “everything app” known as X, with Musk continuing to oversee design and technology at the company.
Musk’s involvement in the creation of X.com, an online bank that was ultimately acquired and changed into PayPal, dates back to 1999.
He has also yearned to build a “everything” app similar to China’s WeChat, which provides texting and mobile payments in addition to social media features similar to Twitter.
On the website of the corporation, it is stated that Linda Yaccarino oversaw a staff of 2,000 individuals at NBCUniversal and “reengineered the advertising business for the 21st century.”
Since late October, Musk has completely taken control of Twitter. As CEO, he has frequently courted controversy by firing the majority of the company’s employees, re-admitting far-right leaders to the network, suspending journalists, and charging for formerly free services.
He is belatedly keeping his promise to respect the outcomes of a Twitter poll he posted in December by appointing Yaccarino.
Of the more than 17 million accounts that participated in that unreliable poll, a total of 57.5 percent voted for his resignation.
Share prices in Tesla increased on news that Musk had chosen a CEO, as Wall Street had grown dissatisfied that Musk was diverting his attention from his other firms to Twitter.