Less than two months into his US$44 billion purchase of Twitter, Elon Musk declared that whoever took over as the company's CEO "must like pain a lot." Then he promised he'd step down as soon as he found a replacement "foolish enough" to want the job.
That person, Musk announced Friday, is Linda Yaccarino, a highly-regarded advertising executive from NBCUniversal. She'll start in six weeks. How long she'll last might depend on her pain tolerance.
When Musk tweeted on Thursday that he's found a new CEO but didn't say who, one word stuck out: "she." Some of his more extreme Twitter followers took immediate issue with the new CEO's gender, but the fact that Musk hired a woman is actually notable simply because it is so rare -- in business overall and especially in the tech industry -- to see female chief executives.
Her appointment renewed questions about the "glass cliff," a theory that women -- as well as underrepresented minorities -- are more likely to be hired for leadership jobs when there's a crisis, which sets them up for failure. The term was coined in 2005 by University of Exeter professors Michelle Ryan and Alex Haslam, and there have been plenty of famous examples since then, from Yahoo's Marissa Mayer to the U.K.'s Theresa May.
Could Yaccarino be headed toward it?
"Her credentials are impeccable and she's been extremely successful so far. But she's also been in settings where her success was achievable," said Jo-Ellen Pozner, a business professor at Santa Clara University who studies corporate governance. "I mean no disrespect to her or to diminish her in the least. I just think that this is an impossible situation for basically anybody."
Whether or not she succeeds depends in part on how much Musk is willing to step back from Twitter's day-to-day operations. The Tesla and SpaceX CEO said he will continue to serve as Twitter's executive chairman -- Yaccarino's boss -- as well as its chief technology officer, reporting to her. He added that Yaccarino "will focus primarily on business operations."
From the moment Yaccarino's name was confirmed, advertising industry experts hailed the decision as a good one -- perhaps the only one -- to steer Twitter toward stability and profitability. Yaccarino oversaw NBCUniversal's market strategy and advertising revenue for its broadcast, cable and digital assets, which totaled nearly $10 billion. In comparison, Twitter's final quarterly revenue as a public company, reported in July, was just $1.17 billion.
"She is exactly what Twitter needs to start rebuilding advertiser trust, bring back big advertisers and really start improving Twitter's ad business," said Jasmine Enberg, an analyst at Insider Intelligence who follows Twitter. "That said, there are still a lot of challenges and Yaccarino is going to have her hands full from day one."
Musk's tenure at Twitter's helm has been chaotic at best. He began his first day firing the company's top executives, followed by roughly 80% of its staff. This has meant that Twitter has far fewer engineers to ensure that the site is running smoothly and far fewer content moderators to help rid it of hate speech, animal cruelty and graphic violence.
He's upended the platform's verification system and has scaled back safeguards against the spread of misinformation. It's been some of these changes -- along with Musk's own penchant for spreading misinformation and engaging with prominent conspiracy theorists and far-right figures -- that analysts say soured many advertisers on the platform.
"Elon Musk has been telling us for months repeatedly that Twitter's problems are the result of advertisers pulling away. But that's not the source of his problems. Advertisers pulling away are a symptom of the problems at Twitter. He's created chaos. He's eliminated internal controls. He's eliminated critical functions like content moderation. He's made the user experience very unpredictable. He's allowed dangerous voices to flourish," Pozner said. "Nobody -- man, woman, alien -- is going to be able to right this ship given these circumstances."
The glass cliff theory holds up in business as well as politics, and, according to a 2011 Harvard Business Review report, "does not seem to apply to organizations with a history of female leaders."
Twitter, like most tech companies, does not have a strong history of female leaders. Its founders were all men, as were all five of its CEOs, including Musk. While female chief executives are rare across industries, they are exceptionally rare in tech. Of the 340 CEOs in a recent survey of S&P 500 companies, 18 were women, up from 16 in 2020. In tech, prominent female CEOs include Oracle's Safra Catz and chipmaker AMD's Lisa Su.
Yaccarino seems ready to go head-to-head with Musk, though it's not clear how that'll play out. In a recent on-stage interview with him, she asked Musk if he could commit to not tweeting after 3 a.m. Agreeing that he's "gotten myself in trouble a few times" with late night/early morning tweets, he responded with a noncommittal "I will aspire to tweet less at 3 a.m."
She also asked Musk if he's open to let advertisers "influence" his vision for Twitter, in "product development, ad safety, content moderation" so they could get more excited about investing in the platform.
Musk quickly shut her down.
"It's totally cool to say that you want to have your advertising appear in certain places in Twitter and not in other places, but it is not cool to try to say what Twitter will do," he said. "And if that means losing advertising dollars, we lose it. But freedom of speech is paramount."
Regaining advertisers' trust will require stabilizing Twitter and ensuring that key product decisions are made thoughtfully and deliberately and not, as Musk has often been known to do, on the spur of the moment, inspired by a fan's tweet or a passing thought. Industry insiders describe Yaccarino as extremely capable, with a proven track record and impressive resume.
But if she's to succeed on the business side, she'll need Musk's buy-in on the product side.
"It is really debatable whether or not he's going to hand the reins over entirely to Yaccarino," Enberg said "And a lot of Twitter's success from here on out really depends on what he decides in terms of that."
U.S. President Joe Biden and Vice-President Kamala Harris on Monday made their first joint appearance since her U.S. selection loss when they observed Veterans Day together by laying a wreath at the Tomb of the Unknown Soldier.
Canadians gathered Monday in cities and towns across the country to honour the sacrifice of men and women in uniform who gave their lives in service of the country's values and principles.
Canada has announced changes to their visitor visa policies, effectively ending the automatic issuance of 10-year multiple-entry visas, according to new rules outlined by Immigration, Refugees and Citizenship Canada.
U.S. President-elect Donald Trump is naming longtime adviser Stephen Miller, an immigration hard-liner, to be the deputy chief of policy in his new administration.
Toy giant Mattel says it 'deeply' regrets an error on the packaging of its 'Wicked' movie-themed dolls, which mistakenly links toy buyers to a pornographic website.
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Business groups are raising concerns about the broad effects of another round of labour disruptions in the transport sector as Canada faces shutdowns at its two biggest ports.
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A government-funded report released to Â鶹´«Ã½ highlights 'systemic racism' against dozens of Black executives within the federal public service, including allegations of abuse, violence and harassment that, in some instances, led to suicide.
A team of tornado experts is heading to Fergus, Ont. after a storm ripped through the area Sunday night.
Two nephews of the beloved Harry R. Hamilton share stories about his life and legacy.
The federal government is urging both sides in the British Columbia port dispute to return to the table after mediated talks broke off on Saturday, the first of three scheduled days.
The union representing some 1,200 dockworkers at the Port of Montreal has overwhelmingly rejected a deal with their employers association.
Canada has announced changes to their visitor visa policies, effectively ending the automatic issuance of 10-year multiple-entry visas, according to new rules outlined by Immigration, Refugees and Citizenship Canada.
Israel’s new foreign minister said that there has been 'certain progress' in efforts to end the fighting with Lebanon’s Hezbollah.
U.S. President Joe Biden and Vice-President Kamala Harris on Monday made their first joint appearance since her U.S. selection loss when they observed Veterans Day together by laying a wreath at the Tomb of the Unknown Soldier.
A Spirit Airlines plane was hit by gunfire Monday over Haiti’s capital Port-au-Prince, according to diplomatic source in the country, resulting in what the airline described as “minor injuries†to one of its crew members.
New York City Mayor Eric Adams is seeking to move up the start of his trial on corruption and bribery charges so he can focus on his campaign for reelection this spring.
With armed conflict again on their continent, many European leaders marked the end 106 years ago of First World War with warnings that liberty, so often taken as self-evident, should be cherished and defended.
A former British soldier who is facing spying charges has admitted escaping from a London prison by clinging to the underside of a delivery truck.
Murray Sinclair’s family members say the late justice and senator has been laid to rest according to his wishes.
Prime Minister Justin Trudeau announced voters in Cloverdale—Langley City will pick their next member of Parliament on Dec. 16.
Canada's ambassador to the United States — and co-lead of the federal government's Team Canada war room — says U.S. president-elect Donald Trump has a different understanding of the bilateral relationship than he did during his first term in the White House.
An opponent of vaccines who urged violence against scientists, politicians and public health officials during the COVID-19 pandemic was sentenced Monday.
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Since the U.S. Supreme Court’s 2022 Dobbs decision eliminated the federal right to abortion, miscarriage management has become trickier and in some cases, deadlier.
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Taylor Swift came out on top at the 2024 MTV EMAs on Sunday, walking away with best artist, best U.S. act, best live act and best video for “Fortnight†(featuring Post Malone).
Chu shared on his Instagram Stories that he and his wife Kristin Hodge welcomed their fifth child on Saturday, writing that he “can’t believe this happened while the movie is premiering.â€
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Most U.S. stocks are rising Monday and adding to the gains made during their best week of the year.
Business groups are raising concerns about the broad effects of another round of labour disruptions in the transport sector as Canada faces shutdowns at its two biggest ports.
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Pat McLaughlin is stepping down as Hockey Canada's chief operating officer and executive vice-president of strategy, the governing body announced Monday.
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The federal government is urging both sides in the British Columbia port dispute to return to the table after mediated talks broke off on Saturday, the first of three scheduled days.
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Several hundred people gathered outside the Ontario legislature in Toronto to honour veterans and remember those who died fighting for their country.
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A man believed to be in his 40s has been rushed to a trauma centre following a stabbing in downtown Toronto.
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Canadians gathered Monday in cities and towns across the country to honour the sacrifice of men and women in uniform who gave their lives in service of the country's values and principles.
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A team of tornado experts is heading to Fergus, Ont. after a storm ripped through the area Sunday night.
A man is facing an attempted murder charge after an attack at a bar in downtown Guelph.
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It was a somber day at Mosaic Stadium as members of the Saskatchewan Roughriders officially cleaned out their stalls and closed the book on the 2024 season.
The Regina Rams claimed the Hardy Cup after a hard fought battle against the Saskatoon Huskies 19-14 on Saturday in the first all Saskatchewan U-Sports western conference final since 2002.
Timmins-James Bay MP Charlie Angus was among approximately 120 people who gathered Sunday night for a candlelight vigil near the scene of a vicious attack against a 16-year-old in Cobalt.
Canadians gathered Monday in cities and towns across the country to honour the sacrifice of men and women in uniform who gave their lives in service of the country's values and principles.
If Earth's astronomical observatories were to pick up a signal from outer space, it would need an all-hands-on-deck effort to decipher the extraterrestrial message. A father-daughter team of citizen scientists recently deciphered the message. Its meaning, however, remains a mystery.
Southampton military historian Bill Streeter was the driving force behind the renaming of Bruce County Road 19 in honour of the brave men who made up the 160th Bruce County Battalion, and fought in the First World War.
Emergency crews responded to the scene on Road 68/Highway 2 east of Thamesford around 7 p.m.
A team of tornado experts is heading to Fergus, Ont. after a storm ripped through the area Sunday night.
A Barrie man is at the centre of an alleged $2.2 million stolen used car scheme.
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Environment Canada issued a weather alert for Barrie, Collingwood and surrounding areas, alerting residents about the wicked winds that are expected to pick up to 80 kilometres per hour in the afternoon hours.
Representatives of the Windsor Veterans Memorial Services Committee, military representatives, wreath bearers, government officials, and members of the public will attend the Cenotaph at City Hall Square for the outdoor service.
Windsor Paralympic champion, Danielle Campo, has been crowned the number one Inspirational Speaker of the Year for 2024 at the Inspirational Speaking Finals.
One person has been arrested after Chatham-Kent Police Service (CKPS) received multiple complaints about an alleged drunk driver.
Environment Canada says heavy rain and winds could cause power outages on Vancouver Island as an "intense" storm system is set to hit the B.C. coast Sunday.
Six deer were struck by vehicles in six different locations in a six-hour period on B.C. highways on Saturday, according to the transportation ministry.
The union for locked-out port workers in British Columbia says the BC Maritime Employers Association cut off talks in less than an hour Saturday, refusing to budge on a final offer that the union has so far rejected.
The emergency department at South Okanagan General Hospital in Oliver, B.C., will be closed for 31 hours this weekend, the second such closure in a week and the third since the start of November.
Police in Kamloops, B.C., are reminding parents and guardians to check their children's Halloween candy after receiving a report of a mother finding a razor blade in one of her daughter's treats.
More than two years after Alannah Brown and Douglas Barker were found dead north of Penticton, police are asking for help identifying a vehicle they believe was associated with the crime.
The Southern Alberta Recreation Association is officially announcing the Town of Taber as next year’s host for the Southern Alberta Summer Games.
The Lethbridge Hurricanes broke open a close game with three goals in the first two minutes of the third period as they defeated the Warriors 7-3 in a game played Friday night in Moose Jaw.
There might not a lot snow just yet, but many southern Albertans are still itching to get outdoors.
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It was just days before the COVID-19 pandemic shut the world down when the Shaft Bottom Boys of Sudbury broke a world record for 'Deepest Concert Underground.' Now, more than four years later, a Timmins band is looking to take the title.
Police say that a 16-year-old was attacked with a sword Nov. 3 in Cobalt, Ont., in a case of intimate partner violence.
Police in Newfoundland say a man was electrocuted Saturday by a downed power wire about 10 kilometres north of St. John's, N.L.
On Thursday morning, Dave Penny officially ended a suggested hundred-day isolation period that followed his diagnosis and stem cell treatment for non-Hodgkin's Lymphoma. On Thursday night, Penny returned to a stage at a downtown St. John's bar, regaling a small crowd with songs and stories with a distinctive Newfoundland flair.
A Memorial University scientist says the mysterious white blobs washing up on Newfoundland beaches are actually gobs of plastic -- and they need to be cleaned up.
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