Musk hires Linda Iaccarino as new chief executive after tumultuous six months at the helm of Twitter

Linda Iaccarino was the head of advertising at American media giant NBC Universal. Photo: Jason Alden/Bloomberg

Elon Musk has hired a senior US Ad Manager to replace him as CEO of Twitter as he aims to turn the social network into an «app for everything».

Linda Iaccarino will join companies from NBCUniversal, the American media giant behind NBC. and Universal Studios, Musk confirmed on Friday.

This came the day after he announced that he would step down to become the executive chairman and chief technology officer of Twitter.

Mr Musk said that Mr. Iaccarino will be tasked with turning Twitter into «X», a so-called super app that will include payments, messaging and video subscriptions.

«I'm delighted to welcome Linda Iaccarino as the new CEO of Twitter!» Musk tweeted.

“[She] will focus primarily on business operations while I will focus on product design and capabilities. new technology. I look forward to working with Linda to turn this platform into X, the Universal App.”

Last month, Musk turned over Twitter's corporate registration to a new Nevada-based organization called X Corp. He took inspiration from the Chinese app WeChat, which is used for messaging, public social networking, payments, shopping, and gaming.

It is my pleasure to welcome Linda Iaccarino. as the new CEO of Twitter! @LindaYacc will focus primarily on business operations, while I will focus on product design and new technologies.

Looking forward to working with Linda to turn this platform into X, the Universal App. https://t.co/TiSJtTWuky

— Elon Musk (@elonmusk), May 12, 2023

Immediately, Ms. Iaccarino will be tasked with strengthening Twitter's relationship with advertisers, some of whom have left the service. in recent months.

Nearly all of Twitter's revenue depended on ads before it was sold to Mr Musk for $44bn (£35bn) last year.

The Tesla billionaire has sought to increase subscription revenue by charging users for verification and other features, and by allowing users to post some of their tweets behind a paywall.

Insider Intelligence analysts predict Twitter's ad revenue will rise . this year will fall by 28 percent, and by 2025 will fall by 40% compared to the level of 2021.

Jasmine Enberg of Insider Intelligence said, «A new CEO is the only way forward for Twitter. The biggest problem in the Twitter ad business was Elon Musk. When he steps back, Twitter may begin to separate Musk's personal brand from the company's corporate image and try to restore trust among advertisers.”

The move will make Ms. Iaccarino one of the most famous women at Silicon. Valley.

The anticipated appointment of Ms. Iaccarino has sparked backlash in some corners of Twitter.

Users have argued that her work with the World Economic Forum, where she chairs a working group on the future of work, and with the Biden administration, where she helped develop a pro-vaccination ad campaign, could represent some of the service's benefits. the most controversial users were banned.

Ms. Iaccarino also worked with the Trump administration, serving on the White House Council on Sports Fitness and Nutrition.

Mr. Musk said: “I think that people from both sides of the political spectrum will find Linda smart, fair and reasonable.»

He also said that he and Ms. Iaccarino will host a live Q&A session on Twitter Spaces as soon as the new CEO «done».