Linda Yaccarino Likely to Become Twitter CEO... A 'Velvet Hammer' Type (Summary)

Musk Announces Intention to Resign as CEO
Linda Yaccarino Mentioned as Next CEO
Twitter Faces Challenge to Improve Ad Revenue
Praised for Excellent Negotiation Skills

Elon Musk has announced his intention to step down as CEO of Twitter. Linda Yaccarino, head of advertising partnerships at NBCUniversal, is being mentioned as a candidate to succeed Musk as CEO.

On the 11th (local time), Musk stated on his Twitter account, "We have appointed a new CEO for Twitter, and she will start working in six weeks." He added that he will only serve as Chief Technology Officer (CTO), overseeing products, software, and system operations at Twitter.

Linda Yaccarino, Head of Advertising and Partnerships at NBCUniversal
[Image source: Linda Yaccarino SNS]

The Wall Street Journal (WSJ) reported that Linda Yaccarino, head of advertising and partnerships at NBCUniversal, is considered the most likely candidate for Twitter's CEO position.

Yaccarino has worked at NBCUniversal for 10 years, overseeing the advertising sector. In 2020, she played a key role in launching the online video streaming service (OTT) Peacock.

If Yaccarino assumes the CEO role, she is expected to face the challenge of improving advertising revenue. According to the IT media outlet The Information, Twitter lost about 500 advertisers earlier this year, resulting in a 40% year-over-year decline in average daily ad revenue. Advertisers stopped running ads due to concerns over the company's image, as Musk's large-scale layoffs and the introduction of paid services like Twitter Blue caused user dissatisfaction.

Moreover, Twitter's debt has reached $13 billion as Musk raised acquisition funds of $44 billion, partly through high-interest secured loans.

WSJ reported that industry insiders praise Yaccarino's capabilities, nicknaming her the "Velvet Hammer." The term implies that although she appears soft like velvet on the outside, she possesses the strength of a hammer.

Meanwhile, following Musk's announcement, Tesla's stock price, where he serves as CEO, rose 2.1% compared to the previous session, closing the regular trading session higher. Major foreign media reported, "Investors expect Musk to save the time he spent on Twitter and focus on managing Tesla."

Earlier, in December last year, Musk had stated that he would step down as CEO once a successor was found, aiming to reduce his working hours just two months after acquiring Twitter.