The head of publicity for NBCUniversalLinda Yaccarino, is in negotiations to become the new CEO of Twitter, according to specialized media.
Read on: Zelenski will travel to Rome to visit the Pope
Elon Musk, the owner and chief executive of Twitter, said in a tweet on Thursday that he had hired a new chief executive, without disclosing his identity. “It will start in about six weeks”Musk noted in his tweet.
He did warn that in the new structure, he reserves a significant number of functions: the executive presidency, the head of technology, the supervision of products, the software and systems operator.
Yaccarino, NBCU president of global advertising and partnershipshas worked at NBCU for more than a decade and as NBCU’s head of advertising sales, was instrumental in launching the company’s ad-supported Peacock streaming service, according to The Wall Street Journal (WSJ).
The media also points out that Yaccarino’s nickname is: “velvet hammer”, due to his harsh negotiation tactics.
Last month, at a conference in Miami Beach, Yaccarino interviewed Musk and asked him about his vision for Twitter.
In 2021, the year before Musk took over the social network and took it private, 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 what others 24 brands reduced their average monthly ad spend on Twitter by 80% or more.
Also read: What consequences would Florida’s anti-immigrant law bring?
In April, Musk said that Twitter could be cash flow positive as early as this quarter.
After buying Twitter for $44 billion, Musk fired several of the company’s top leaders, including CEO Parag Agrawal, legal counsel and chief financial officer.
The last December, Musk floated the idea of appointing someone to take over the day-to-day running of the social media platform. And in a 12-hour poll that the billionaire posted on his Twitter account, 57% of respondents said he should resign as CEO.
He didn’t then, however, settling the matter with a quip: “I’ll resign as CEO as soon as I find someone crazy enough to take that job!” he said.
Today, the news that Musk is stepping down from his Twitter responsibilities was celebrated among investors, as after his tweet about the search for a new CEO for Twitter, shares of Tesla (another of the companies owned by Musk ) shot up and closed up 2%.