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Elon Musk in Talks to Hire Linda Yaccarino as Twitter’s New CEO

Elon Musk Linda Yacarino, head of global advertising and partnerships at NBCUniversal, is in talks to hire Twitter’s chief executive, two people with knowledge of the matter said.

The talks are at an advanced stage because the talks are confidential, said the people, who spoke on condition of anonymity. Ms. Yaccarino has been in talks with Mr. Musk for weeks, he said. Last month, Ms. Yaccarino interviewed Mr. Musk on stage at an advertising event in Miami.

Mr. Musk had. said Earlier on Thursday, he had chosen a chief executive for Twitter but did not identify the executive. In a tweet, he said “She’ll be starting in ~6 weeks!” He added that he will remain involved as executive chair and “CTO,” which usually refers to chief technology officer, and will still oversee Twitter’s product and software.

Mr. Musk and Ms. Yaccarino did not respond to requests for comment. The Wall Street Journal Reported earlier that Ms. Yacarino was communicating with Mr. Musk.

Mr. Musk, who Bought Twitter for $44 billion. Last year, will maintain a firm grip on the company regardless of whether it names a chief executive. As the owner of Twitter, he has. Put his stamp on it By laying off more than 75 percent of its 7,500 employees, installing its leaders and changing service features and strategy. It also took Twitter private, which means it doesn’t have to reveal corporate information to the public.

Any new chief executive will inherit many challenges at Twitter. The company faces a shrinking advertising business, which has been its main source of revenue, as well as debt payments of about $1.5 billion a year from the sale to Mr. Musk. At an investor conference in March, he said that Twitter Ad revenue suffered a 50 percent drop And was headed for bankruptcy within months of being bought.

Some of Twitter’s advertising woes were related to the broader downturn caused by uncertainty in the global economy. But Mr. Musk also intimidated advertisers After buying Twitter, throwing up a guardrail over what types of posts would be allowed on the social media service. Brands generally don’t want to run ads with toxic content.

IPG, one of the world’s largest advertising companies, issued a recommendation in the fall for clients through its media agencies to temporarily halt spending on Twitter due to concerns about moderation.

Last month, in an interview with The BBCMr Musk said most of Twitter’s advertisers had returned.

In Ms. Yaccarino, Twitter will be found An executive with deep ties to the advertising industry And with extensive experience in the media sector. Ms. Yaccarino, whose star rose during a long career at NBCUniversal, has personal relationships with most of the chief executives of advertising holding companies, a key constituency for Twitter.

She has moved to the top of the advertising world over the years, overseeing a sprawling team that has brokered major marketing partnerships, helped develop NBC Universal’s streaming options, critical Targeted. Outdated industry practices and generated more than $100 billion in ad sales. She has been heavily involved in the network’s affairs with marquee events such as the Super Bowl and the Olympic Games. She is also a reliable presence at glitzy advertising events such as the Cannes Lions Festival in the south of France.

The talks about Twitter’s chief executive come at a critical time for Ms. Yaccarino, who is scheduled to make an annual pitch next week to lure advertisers from one of NBCUniversal’s biggest clients.

Mr. Musk raised the idea of ​​Twitter’s chief executive in December after some of his decisions at the company were criticized. They A survey was conducted on Twitter At the time, he was asking whether he should step down as head of the company. “I will abide by the results of the referendum,” he wrote.

More than 17 million votes were cast in the poll, with nearly 58 percent of respondents saying they were in favor of the chief executive stepping down. In February, speaking at a conference in Dubai, Mr Musk said he wanted to name a new Twitter chief executive by the end of 2023.

Twitter workers were not informed of the new chief executive before Mr. Musk’s tweet, according to two employees.

Mr Musk has faced pressure from investors in his other companies – particularly electric car maker Tesla – to step away from the day-to-day management of Twitter, which he sees as a distraction. Tesla shares, which were little changed for most of the day, jumped after Mr. Musk’s tweet, rising about 2 percent in the final minutes of trading on Thursday.

Mr. Musk has previously held some leadership responsibilities at his other companies. At SpaceX, his private rocket company, he has delegated much of the running of the firm. Gwen Shotwell, President and Chief Operating Officer. That has freed up Mr. Musk to focus on engineering and product decisions and move around his various companies.



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