New Twitter CEO Says She's Excited To Transform The Platform

Twitter's newly appointed CEO, Linda Yaccarino, said in a tweet on Saturday that she has long been inspired by Elon Musk's vision for the platform and is excited to help transform the company. 

Yaccarino added that she is committed to the social media company's growth and that feedback from users is "vital to that future."

On Friday, Musk took to Twitter to announce Yaccarino as the social media platform's new CEO. Yaccarino will join the social media giant in approximately six weeks. She will focus primarily on business operations while Musk will take care of product design and new technology, the billionaire entrepreneur tweeted. 

Also Read: Twitter's New CEO Once Tried To Convince Elon Musk To Stop Tweeting After 3 A.M.

Yaccarino's departure from Comcast Corporation's NBCUniversal was announced Friday morning. She had served as the company's chairman of global advertising and partnerships, and had played a crucial role in launching NBCUniversal's ad-supported streaming service, Peacock.

Since Musk acquired Twitter, the platform has been bleeding advertisers, with several high-profile companies pausing campaigns on the platform.  According to a report from Bloomberg, from September 2022 to October 2022, the top advertisers on Twitter spent $71 million on ads. However, in February and March of this year, that figure dropped to $7.6 million, a decline of 89%, according to Bloomberg, which cited research firm Pathmatics. 

In the quarter ending June 30, Twitter reported a total revenue of $1.18 billion, out of which $1.08 billion, or roughly 92%, was from advertising. The company posted a net loss of $270 million, compared to a profit of $66 million in the same period the prior year. 

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Photo: Shutterstock and World Economic Forum on flickr