Elon Musk is no longer CEO of Twitter, as Linda Yaccarino started work at the social network on June 5 (local time). Around 8 p.m., the former NBCU advertising sales executive tweeted: “It happened - day 1 just ended.”
Yaccarino was originally scheduled to arrive at Twitter around June 22, after Musk tweeted on May 11 that she would take over in six weeks. Once a successor is named, Musk will transition to the position of chief technology officer, overseeing product, software, and sysops.
The world's richest billionaire has been CEO of Twitter since buying the company for $44 billion in October 2022. According to a shareholder, Twitter is now worth about a third of what it was when Musk acquired it. Two months later, he announced he would resign after conducting a survey and the majority of users wanted him to leave.
In April, he joked that his dog was now the owner of Twitter.
Yaccarino will have a tough job of returning Twitter to profitability and restoring its advertising business. According to internal documents obtained by the New York Times, Twitter's US advertising revenue fell 59% year-over-year in 2022 and has consistently missed weekly forecasts.
According to Insider, Musk will prioritize live video services. Some advertisers speculate that he wants to turn Twitter into a video-centric platform. This makes sense since Yaccarino has expertise in selling ads in addition to video content.
Yaccarino's journey began just as two senior executives of the "bluebirds" resigned.
(According to Insider)
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