Elon Musk appoints Linda Yaccarino as new CEO of Twitter
Elon Musk has announced the appointment of Linda Yaccarino, the former head of advertising at NBC Universal, as the new CEO of Twitter. Musk tweeted the news on Friday and stated that Linda will handle the business side of Twitter, while he will manage the technical aspects.
However, analysts predict that Linda’s job will not be easy as Elon Musk is expected to remain heavily involved in the company as chairman and also has a reputation for taking aggressive actions. Linda’s primary task will be to adapt to Elon Musk’s style and build a working relationship with him.
Twitter’s main source of income is advertising, but revenue has dropped due to Musk’s actions, such as the removal of inappropriate content and the sale of blue ticks for money.
Musk has warned that Twitter’s revenue may fall below $3 billion in 2023, so Linda’s challenge will be to regain the trust of advertisers and increase revenue. Twitter also needs to turn a profit to pay off its $13 billion debt and cover its monthly expenses of $300 million.
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Elon Musk launched Twitter subscriptions to generate revenue after ad revenue declined, but so far, the service has only attracted 600,000 to 635,000 customers out of 250 million users. Another challenge for Linda will be to increase subscription sales. She will also need to comply with regulatory agencies in different countries, such as the European Commission and the US Federal Trade Commission.
Linda Yaccarino was selected over several other candidates, including former Yahoo CEO Marissa Mayer, former YouTube CEO Suzanne Wojcicki, and Elon Musk’s startup Neuralink CEO Shivon Gillies. Musk interviewed Linda in Miami last month and decided to give her the responsibility of leading Twitter.
