This morning NBCUniversal announced the company lost its Chairman of Global Advertising and Partnerships, Linda Yaccarino at NBCU and Peacock. She will be joining Twitter as the new CEO. The announcement was made official by a tweet from Twitter’s Chief Executive Elon Musk today.
“I am excited to welcome Linda Yaccarino as the new CEO of Twitter… [she] will focus primarily on business operations, while I focus on product design and new technology. Looking forward to working with Linda to transform this platform into X, the everything app,” Musk stated on Twitter.
Linda Yaccarino will take over this role in approximately six weeks. Elon Musk has been looking for a new CEO for quite some time now and finally found someone up to the challenge. He had announced months ago he was stepping down from the role but will remain on as chairman and CTO.
His decision to step down was inspired by the loss of a massive number of advertisers and revenue due to inconsistent content moderation policies and verification systems. Musk attempted to increase profits by charging account holders for an official blue Twitter verification checkmark, which didn’t go over so well in execution.
Other revenue-generating staff members have been laid off since Musk bought Twitter on October 27th, 2022. Over 6,000 employees have lost their jobs since Musk decided to reduce operating costs, bringing the Twitter team down to approximately 1,5000 people, a reduction of over 80 percent.
With Linda Yaccarino onboard, the company hopes to revamp Twitter’s reputation. Check back with Cord Cutters News for more details as this story continues to develop.