Newly appointed Twitter CEO Linda Yaccarino expressed her excitement to contribute to the platform's transformation and how owner Elon Musk's vision for a better future has motivated her, said in a tweet on Saturday, May 13, 2023.
It was Yaccarino's first public statement since it was revealed on Thursday that she was in discussions to succeed Elon Musk as CEO of Twitter. Musk, who has been Twitter's CEO since purchasing the company for $44 billion in October, made the announcement of her hiring on Friday.
"I've long been inspired by [Musk's] vision to create a brighter future. I'm excited to help bring this vision to Twitter and transform this business together!" Yaccarino tweeted.
Yaccarino will take over a social media company that has been struggling to recover from a decline in ad revenue and is heavily indebted.
Since Musk acquired Twitter, advertisers have abandoned the service out of fear that their advertisements would be displayed next to offensive content because the firm laid off almost 80% of its workers. Earlier this year, Musk recognised the dramatic drop in Twitter's ad revenue.
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While Musk stated that Yaccarino will assist in the development of an "everything app," which he has previously stated may provide a range of services such as peer-to-peer payments, his choice of an ad industry veteran suggested that digital advertisements would remain the company's primary priority.
About Twitter CEO Linda Yaccarino:
“Excited to announce that I’ve hired a new CEO for X/Twitter. She will be starting in ~6 weeks!,” Musk said in a tweet on Friday (May 12) but did not offer other details.
Yaccarino, who spent several years modernising the ad business at NBCUniversal, a Comcast Corp. subsidiary, said she is committed to Twitter's future and that user participation is essential to creating Twitter 2.0.
Yaccarino is the chairman of the WEF's Taskforce on the Future of Work and a member of the steering committee for the WEF's Governors of the Media, Entertainment, and Cultural Industries.
