Linda Yaccarino, the new CEO of Twitter, has officially started in the new role. In a tweet on Monday, the ex-NBCUniversal advertising chief confirmed her first day on the job. She replaces Elon Musk, who took over as CEO when he acquired Twitter for $44B in October. Yaccarino, formerly NBCU's chair of global advertising and partnerships, takes over at a critical time as Twitter aims to revive its declining ad revenue and repair its relationships with brands. - According to The New York Times, Twitter's U.S. ad revenue plummeted by 59% to $88M in the five weeks from April 1 compared to the previous year.
- Recent Sensor Tower data revealed that only 43% of Twitter's top 1,000 advertisers prior to Musk's acquisition were still active on the platform as of April.
- During a recent Twitter Spaces session, Musk claimed that "half our advertising" vanished, attributing it to the pressure from advertisers in Europe and North America who he believes are trying to push Twitter into bankruptcy.
- As the owner of Twitter, Musk will still have major control over the company, even without the CEO title. He is transitioning to the roles of executive chairman and CTO, overseeing product, software, and systems operations.
Additionally, Yaccarino has hired Joe Benarroch, one of her trusted advisers at NBCUniversal, to take on a senior business operations role at Twitter. - Her takeover comes just days after the resignation of Twitter's head of trust and safety, Ella Irwin, who oversaw content moderation on the platform.
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