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NBCUniversal’s global advertising director Linda Iaccarino has resigned to join Twitter as its next CEO.
Twitter owner Elon Musk Confirm the rent in a tweet Friday.
“I am excited to welcome Belinda Iaccarino as the new CEO of Twitter!” Musk tweeted. He said it will “primarily focus on business operations, while I focus on product design and new technology.”
He added, “We look forward to working with Linda to turn this platform into an X, everything app.”
The announcement comes a day after Musk said via Twitter that he would be stepping down and that there would be a new CEO for the social networking site, though he did not name the new person. Musk said in his tweet that one will start in about six weeks.
Yaccarino joined NBCUniversal in 2011 and rose to the top of the company’s global advertising business. On Monday, the advertising chief was scheduled to participate in NBCUniversal’s Upfront event in New York’s Radio City — the sales presentation that the company, along with its media peers, presents to the advertising industry each year in May.
The longtime advertising executive brings a wealth of relationships with CMOs and other advertising executives to Twitter at a time when the platform has seen advertisers flee — and thus losing Billions of dollars – after Musk’s acquisition last year.
Musk completed his $44 billion acquisition of Twitter in October last year. Soon after, he fired the company’s top brass and laid off thousands of employees.
Many companies have stopped spending on ads on the platform since Twitter has seen an increase in offensive rhetoric and rhetoric, as many advocacy groups have documented. In an effort to make up for lost advertising revenue, Musk has created a new subscription service, Twitter Blue, which offers features such as the ability to write longer tweets.
Jacarino sat and grabbed together Key interview At a marketing conference in Florida in mid-April. During the conversation, the two discussed the role marketers play in the future of Twitter, as well as its place in the cultural conversation.
During the conference, Musk It said Reassure advertisers that Twitter is a respectable place for their brands.
Yaccarino’s exit from NBCUniversal comes weeks after Jeff Shell was fired as CEO of the company after admitting to an inappropriate relationship with an employee. Instead of replacing Shell, NBCUniversal’s senior executives will report to Mike Kavanagh, the parent company’s president Comcast.
On Friday, NBCUniversal said Yaccarino will be leaving the company, effective immediately, and Mark Marshall, the current president of ad sales and client partnerships, will become the interim president of the company’s advertising and partnerships group.
Marshall will report to Mark Lazarus, President, NBCUniversal Television and Streaming. Lazarus and Marshall are likely to star in the NBC Universal presentation Monday, CNBC’s David Faber and Julia Burstein reported Friday.
Disclosure: NBCUniversal is the parent company of CNBC.
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