Business
NBCUniversal ad chief departs, could be named Twitter CEO shortly
Former NBCUniversal advertising chief Linda Yaccarino could be named the next Twitter chief executive as soon as Friday, according to a source familiar with the matter.
Twitter CEO Elon Musk said on Thursday that he had found a new chief executive for the social media site but did not name the person. Yaccarino, who modernized the Comcast Corp entertainment and media division’s advertising business, was reportedly in talks for the job, a source with knowledge of the situation confirmed.
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Yaccarino could not be reached for comment. Twitter did not immediately respond to a request for comment.
Her exit is another big blow to the company after NBC parent Comcast said last month that NBCUniversal CEO Jeff Shell was leaving after acknowledging an inappropriate relationship with a woman in the company, following a complaint that prompted an investigation.
Advertising President Mark Marshall will step in as interim chairman of NBCUniversal’s advertising and partnerships group. Marshall was named president of ad sales and partnerships in 2018, overseeing NBC’s broadcast entertainment, sports, and advanced advertising sales.
Yaccarino’s exit comes at a difficult time for NBCUniversal, which is preparing for its annual upfront presentation to advertisers on Monday at Radio City Music Hall.
Yaccarino joined NBCU in 2011, after 15 years at Turner Entertainment, and has been credited with taking the network’s ad sales operation into the digital future.
As broadcast television audiences migrated to streaming, she took to the stage at Radio City Music Hall last year to tell advertisers that their brand messages were not an afterthought. She said NBCUniversal incorporated ads in its Peacock streaming service from the outset.
Yaccarino would bring deep relationships with major brands and advertisers to Twitter, which would benefit the messaging platform.
“Twitter needs credibility with the advertising community,” said Greg Kahn, chief executive of GK Digital Ventures media consultancy. “Linda has demonstrated her trust, her innovative nature of bringing new partners to the table and a deep bench of relationships.”
Since Musk acquired Twitter in October, advertisers have fled the platform, worried that their ads could appear next to inappropriate content after the company lost nearly 80 percent of staff. Musk earlier this year acknowledged that Twitter suffered a massive decline in ad revenue.
Musk also has axed thousands of employees, rushed the launch of a subscription product that allowed scammers to impersonate major brands and suspended users with whom he disagreed.
Lou Paskalis, a long-time ad industry executive, tweeted Thursday that Yaccarino “would be my first choice, and my only choice, to save the platform from the hands of its owner.” But he added “I still cannot understand why she’d subject herself to (Musk), however!”
Musk, the CEO of electric vehicle maker Tesla, completed his purchase of Twitter in October for $44 billion. He said in December that he would step aside as CEO once he found “someone foolish enough to take the job.”
On Thursday, Musk said he will transition to the role of chief technology officer of the social media platform within the next few weeks. One person close to Yaccarino said Musk’s tweet may well have accelerated the timetable for her to join Twitter, which would be a balm to Tesla shareholders.
Shares of Tesla rose slightly on Friday, as analysts commented that a CEO hire would allow Musk to concentrate on the EV business. Comcast shares were little changed in morning trading.
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