Elon Musk is no longer the CEO of Twitter because Linda Yaccarino started working at the social media platform on June 5th (local time). Around 8 PM, the former NBCU advertising sales director tweeted: "It happened – day one just closed."
Initially, Yaccarino was scheduled to join Twitter around June 22nd, following Musk's tweet on May 11th that she would be taking over the position in six weeks. After her successor is appointed, Musk will move into the role of Chief Technology Officer, overseeing product, software, and system administration (sysop).
The world's richest billionaire has been CEO of Twitter since acquiring the company for $44 billion in October 2022. According to one shareholder, Twitter's current value is only about one-third of what it was when it was acquired by Musk. Two months later, he revealed he would resign after conducting a survey and a majority of users wanted him to step down.
In April, he joked again that his dog was now the boss of Twitter.
Yaccarino's task will be incredibly difficult: to make Twitter profitable and revive its advertising business. According to internal documents obtained by the New York Times, Twitter's US advertising revenue has fallen 59% year-on-year in 2022 and has consistently failed to meet weekly projections.
According to Insider, Musk will prioritize live video services. Some advertisers speculate he wants to turn Twitter into a video-focused platform. This makes sense, as Yaccarino has expertise in selling advertising alongside video content.
Yaccarino's journey began precisely when two of the club's top executives resigned.
(According to Insider)
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