Linda Yaccarino stepping down as CEO of X
Linda Yaccarino introduced Wednesday that she is stepping down as CEO at X, the social media web site previously often called Twitter.
Yaccarino joined X in June 2023, shortly after billionaire Elon Musk purchased the location for $44 billion. Her determination to step down got here after “two unbelievable years” on the firm, she stated in a farewell be aware posted on X.
“When @elonmusk and I first spoke of his imaginative and prescient for X, I knew it will be the chance of a lifetime to hold out the extraordinary mission of this firm,” Yaccarino wrote. “I am immensely grateful to him for entrusting me with the duty of defending free speech, turning the corporate round, and reworking X into the All the pieces App.”
Isaac Brekken/Selection/Penske Media through Getty Photos
In her be aware, Yaccarino additionally talked about accomplishments made beneath her tenure on the firm and nodded to the platforms future with xAI, Musk’s synthetic intelligence firm.
“Now, the very best is but to return as X enters a brand new chapter with @xai,” she wrote.
Musk responded to Yaccarino’s announcement on X writing, “Thanks on your contributions.”
Musk tapped Yaccarino to interchange him as CEO of the corporate in Could 2023. “Wanting ahead to working with Linda to remodel this platform into X, the every thing app,” he posted on X on the time.
After becoming a member of X in 2023, Yaccarino was instantly tasked with boosting advert income — not a simple feat after many large manufacturers pulled again on spending following Musk’s October 2022 takeover of the platform. Apple, Coca-Cola and Disney all eliminated paid advertisements from X that 12 months.
By January of 2024, the firm’s market worth had plunged over 70% in comparison with when Musk bought the platform, in accordance with one Wall Avenue estimate.
But X’s prospects seemed to be enhancing beneath Yaccarino’s management. Each Amazon and Apple introduced they might rejoin the platform earlier this 12 months.
Earlier than taking the helm at X, Yaccarino spent over a decade at NBCUniversal, the place she served as chair of world promoting. Throughout her tenure at NBC, her staff generated $100 billion in advert gross sales, whereas she additionally helped launch the corporate’s ad-supported streaming service, Peacock.
Previous to NBC, Yaccarino spent practically 20 years at world leisure firm Turner. In her farewell be aware posted on X, Yaccarino didn’t say if she was instantly taking one other job. .
contributed to this report.
