AT THE HELM
AT THE HELM - Linda Yaccarino, CEO, Twitter
- IBJ Bureau
- Aug 05, 2023
New chief executives may have taken charge of a job
as challenging as Linda Yaccarino’s. The 59-year-old media veteran, who assumed
the office of CEO of Twitter in early June, is likely to face many hurdles. The
microblogging site has seen an exodus of talented workforce in recent months,
while advertisers are abandoning it rapidly.
Many more troubles keep cropping up every passing
day, and Ms Yaccarino will certainly need a strong will and an equally thick
skin to clean up the mess at Twitter. Ms Yaccarino’s track record of past
successes perhaps prompted Elon Musk, the new owner and executive chairman of
Twitter, to bet on her in the first place.
Born in Long Island, New York, to parents of
Italian origin, young Linda graduated from Pennsylvania State University’s
Donald P Bellisario College of Communications with a bachelor’s degree in
telecommunications. She worked with Turner Entertainment for close to 20 years
and went on to become its executive vice-president and COO in charge of
advertising sales, marketing and acquisitions.
She later joined NBCUniversal as president of its
cable entertainment and digital advertising sales in 2011. A year later, she
was promoted as chairman, overseeing the television network’s advertising and
client partnerships. In her 12-year stint at NBCUniversal, Ms Yaccarino
transformed the television company’s advertising system by uniting the TV
network’s various units to create a united monetisation strategy. She also
played a key role in launching Peacock, NBC’s advertisement-supported streaming
service.
Ms Yaccarino is a well-respected figure in the
media world. She is renowned for her strong connections with sponsors and her
capacity to increase revenue. Advertisers are what Twitter needs very badly,
and her appointment as the CEO could be the perfect remedy for ailing social
media platform.
However, exodus of advertisers from Twitter and its
huge slump in advertising revenue are actually symptoms of a deeper malaise.
The biggest challenge for Ms Yaccarino is handling Mr Musk, whose mercurial and
unpredictable actions have done more harm to the company. Twitter finds itself
in a rather chaotic mess ever since Mr Musk acquired it around seven months
ago.
On his very first day at Twitter, Mr Musk fired the
company’s top executives, including its Indian-origin CEO Parag Agrawal and
other top brass. Subsequently, the company’s workforce has been slashed by
about 80 per cent during this period. The result is that there are far fewer
engineers and content moderators to help rid the platform of hate speech,
animal cruelty, graphic violence and pornography. Few advertisers are willing
to support Twitter in this toxic state.
To be fair, Twitter’s anaemic balance sheet
predated Mr Musk’s acquisition of the company. In fact, the social media
platform had last reported profit way back in 2019. It was struggling to
compete with the likes of Meta, TikTok and Instagram – the latest to join the
rival club is Instagram’s Threads. The situation has only worsened with Mr Musk
at the helm.
Ms Yaccarino certainly knows that the corner office
at Twitter is no less than a minefield. But her decision to throw away her
comparatively- cushy job at NBCUniversal for the challenge of Twitter is quite
courageous. So, will her Twitter bet pay off?
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