owner twitter, Elon Muskannounced this Friday Linda Yaccarino will become the new general manager of the network and “will focus mainly on commercial operations”during will focus on “product design and new social networking technologies”.
Musk, who took over as CEO after buying the social network last year, said in a tweet on Thursday that it was his. “Excited to welcome Linda YaccarinoRecently, Yaccarino announced that he is stepping down as head of promotion for NBCUniversal (NBCU) this Friday.
Yaccarino’s advertising profile can help calm fearsMusk’s continued sweeping changes to Twitter’s policies have created distrust and caused advertisers to flee.
According to another tweet by Musk this Thursday, Yaccarino will take the reins of the company in about six weeks.
Musk, who bought Twitter last year promising to bring back its vision of “free speech”, warned of the new structure: retains a significant number of functions: chief executive officer, head of technology, product control, software and systems operator.
In 2021, a year before Musk took over and made the social network private, ads made up about 90% of the company’s revenue.
But then things changed radically: Before Musk bought the company, 37 of Twitter’s top 100 advertisers spent nothing on network advertising in the first quarter This year, 24 other brands cut their average monthly ad spend on Twitter by 80% or more, according to market intelligence firm Sensor Tower.
Musk in April – whoHe is the second richest person in the world— behind French businessman Bernard Arnault and ahead of Amazon founder Jeff Bezos — Twitter said cash flow could be positive this quarter.
After that Buy Twitter for $44,000 million (about 40.3 billion euros) Musk fired some of the company’s top executives, including CEO Parag Agrawal, legal counsel and chief financial officer.
In addition, the company laid off about three-quarters of its employees, and a significant number left voluntarily.
Musk and Yaccarino has previously collaborated. The two took part in a panel titled “Twitter 2.0: From Conversations to Partnerships” held in Miami Beach, Florida last month, and Yaccarina asked the millionaire about Twitter’s role and the future of the social network.
Tesla shareholder response
Since Thursday Musk announces it will be a new CEO in about six weeksThe news was celebrated among investors in Tesla (another Musk-owned company) as investors hope that with this change, Musk will return to prioritizing Tesla, the electric car company that is also the CEO and key to his wealth. .
For this reason, Tesla shares closed 2% higher on Thursday and opened about 3% higher this Friday..
However, stocks were losing 1.20% in half a day on Wall Street.