Until now, NBCUniversal’s head of publicity, Linda Iaccarino, is in talks to become the new CEO of Twitter, according to specialized media. Elon Musk, Twitter’s owner and CEO, said in a tweet Thursday that he has hired a new CEO, without disclosing his name. “This will start in about six weeks,” Musk explained in his tweet. NBCUniversal announced this Friday that Iacarino has resigned.
Musk warned that he would retain a significant number of roles in the new structure: executive presidency, chief technology officer, product overseer, software and systems operator. Yaccarino, NBCU’s president of global advertising and partnerships, has been with NBCU for more than a decade and, as NBCU’s head of advertising sales, was instrumental in launching the company’s ad-supported streaming service Peacock. According to The Wall Street Journal (WSJ).
This media also points out that Iaccarino’s nickname is “Velvet Hammer” because of his tough negotiating tactics. At a conference in Miami Beach last month, Iaccarino interviewed Musk and asked him about his vision for Twitter.
In 2021, the year before Musk took the social network and took it personally, advertising accounted for nearly 90% of the company’s revenue. But then things changed dramatically: Of the top 100 advertisers on Twitter before Musk bought the company, 37 spent nothing on network advertising in the first quarter of this year, according to market intelligence firm Sensor Tower, while 24 other brands cut their average monthly ad spend on Twitter. by 80% or more.
In April, Musk said that Twitter could be cash flow positive as early as this quarter. After acquiring Twitter for $44 billion, Musk fired several of the company’s top leaders, including CEO Parag Agrawal, legal counsel and CFO.
Last December, Musk floated the idea of ​​appointing someone to lead the day-to-day running of the social media platform, and in a 12-hour poll the billionaire posted on his Twitter account, 57% of respondents said he should step down as CEO. However, he didn’t do that, but instead joked, “I’ll step down as CEO as soon as I find someone crazy enough to take the job!” – he said.
This Friday, investors took note of news that Musk would be stepping down from his role at Twitter, as shares of Tesla (another Musk-owned company) rose to close 2.% after his tweet about Twitter’s search for a new CEO.
Source: El Diario
