Twitter’s new boss pledges shake-up
Twitter’s new CEO vows to ‘transform’ the social media company with owner Elon Musk
- In six weeks, Linda Yaccarino will take on the top job
- Yaccarino said she was excited to ‘transform this company with Musk’
- Twitter hopes Yaccarino can bring back advertisers who have stopped spending
Teamwork: Linda Yaccarino believes she can transform the company with Elon Musk
Twitter’s new CEO has pledged to “transform” the social media company with owner Elon Musk as it struggles with an advertiser exodus and heavy debt.
Linda Yaccarino, who takes the top job in six weeks, said she was excited to “co-transform this company” with Musk, who bought Twitter six months ago for $44bn (£38.1bn).
The 59-year-old advertising veteran first confirmed her appointment in a tweet this weekend, saying she would “create a brighter future.”
Yaccarino said, “Thanks Elon Musk. I have long been inspired by your vision to create a brighter future. I’m excited to help bring this vision to Twitter and transform this company together!”
She added, “I’m not as productive as [Elon Musk] (yet!), but I am equally committed to the future of this platform’.
According to a second tweet from Yaccarino, feedback from Twitter users was “vital” for the future. “I’m here for everything,” she said.
The company hopes NBCUniversal’s former head of advertising can bring back some of the 500 major advertisers who reportedly stopped spending on the platform since Musk’s acquisition last October.
Yaccarino was instrumental in launching NBCUniversal’s ad-supported streaming service, Peacock, and oversaw the merger between NBC and Comcast that created NBCUniversal.
Last week, Musk, who also heads electric car maker Tesla, said the new boss would “focus primarily on business,” leaving him “focused on product design and new technology” as executive chairman and chief technology officer. .
Musk wants to turn Twitter into ‘the everything app’ for users. Paolo Pescatore, technology analyst at PP Foresight, said: “Twitter needs stability and needs to restore confidence.
Yaccarino’s appointment demonstrates a clear desire to generate advertising revenue. By directing use to one destination, involvement increases.’
He added, “By getting a better idea of user habits, expect to see more hyper-personalized services, features and offerings.”
Turning Twitter into a “super app” would allow it to reap the benefits of business models including subscriptions, tiered pricing, and advertising.
Analyst Dan Ives of asset manager Wedbush also said, “This is going to be an Everest-like uphill battle to monetize Twitter, but now the strategy will be mapped out and implemented.”