Telecom
Meet Linda Yaccarinon, Newly Appointed CEO of Twitter
Linda Yaccarino, the newly appointed CEO of Twitter was previously NBC Universal’s top advertising sales executive, she was on Friday officially announced as the new CEO of Twitter by Elon Musk.
Musk, who acquired Twitter last fall, tweeted his excitement about Yaccarino joining the company and mentioned that she would primarily focus on business operations while he concentrates on product design and new technology. The goal is to transform the platform into an all-encompassing app called “X, the everything app.”
Yaccarino is expected to assume her role at Twitter by the end of June. Musk, on the other hand, will take on the positions of executive chair and CTO. His acquisition of Twitter was a result of a contentious back-and-forth with the board.
One of Yaccarino’s primary responsibilities will be to rebuild Twitter’s advertising business, which Musk claimed had suffered a significant decline of up to 50% after he acquired the company.
Advertisers have been cautious due to Musk’s unpredictable decisions in running Twitter and his reinstatement of previously banned accounts.
Yaccarino is known to hold conservative political views and had served on Donald Trump’s council on sports and nutrition during his presidency.
However, her imminent appointment as Twitter CEO caused a stir on “conspiracy Twitter” as right-wing users discovered her affiliation with the World Economic Forum (WEF), an organization they perceive negatively. Yaccarino had chaired the WEF’s Taskforce on the Future of Work.
After announcing Yaccarino’s hire, Musk commented that he believes people from both ends of the political spectrum will find her to be smart, fair, and reasonable.
This announcement followed Musk’s previous day’s announcement about hiring a new CEO without disclosing her name. Reports soon revealed that Yaccarino, NBCU’s chairman of global advertising and partnerships, was in talks for the Twitter CEO position. On Friday, prior to Musk’s confirmation, Yaccarino resigned from NBCU.
Musk had previously stated his intention to step aside as Twitter’s chief executive once he found a suitable replacement. However, he will retain full control of the social network and remain closely involved in its management.
Although Musk’s deal for Twitter was initially valued at $44 billion, he now values the company at $20 billion. He has recently renamed the company “X Corp.” as the parent organization of Twitter.
Yaccarino’s interest in Twitter stems from recognizing the opportunities within the platform. Lou Paskalis, a former senior marketing executive at Bank of America, mentioned that Twitter is likely selling advertising at significant discounts in exchange for volume commitments.
Before her tenure at NBCU, Yaccarino spent 20 years in ad sales and marketing roles at Turner, holding positions such as EVP/COO of advertising sales, marketing, and acquisitions.
Who is Linda Yaccarinon?
63-year-old Linda Yaccarino was born in New York City. She graduated from the University of Pennsylvania with a degree in economics, and she began her career in advertising at J. Walter Thompson.
Linda Yaccarino Career
Yaccarino began her career in the media industry in 1986, when she joined Young & Rubicam as an account executive.
She quickly rose through the ranks, and in 1996, she was named President of the agency’s New York office. In 2000, Yaccarino joined NBCUniversal as President of Advertising Sales. She was promoted to Chairman of Global Advertising and Partnerships in 2018.
She quickly rose through the ranks, and in 2011 she was named chairman of global advertising and partnerships.
In this role, she is responsible for all of NBCUniversal’s advertising sales, including for its broadcast networks, cable networks, and streaming services.
Under Yaccarino’s leadership, NBCUniversal’s advertising business has grown significantly. In 2022, the company generated $13 billion in ad revenue, making it one of the largest advertising sales organizations in the world.
Yaccarino has also been a vocal advocate for the media industry, and she has spoken out on a variety of issues, including the importance of diversity and inclusion in the workplace, the need for better measurement of advertising effectiveness, and the future of the media industry in the digital age.
Linda Yaccarino Personality
Yaccarino is perceived as a strong advocate for the advertising industry, and she has been a vocal critic of the way that digital platforms have disrupted the traditional advertising model. She has also been a leader in the development of new ways to measure the effectiveness of advertising.
In addition to her work in the advertising industry, Yaccarino is also a member of the World Economic Forum’s Global Agenda Council on the Future of Work. She is also a member of the board of directors of several companies, including the New York Stock Exchange and the National Association of Broadcasters.
Yaccarino is a highly respected leader in the advertising industry, and she is known for her intelligence, her creativity, and her passion for her work. She is a role model for women in business, and she is an inspiration to many.
She has been a strong advocate for the future of work, and she is committed to helping people prepare for the challenges and opportunities of the 21st century.
Linda Yaccarino has been recognized for her work by numerous organizations, including Adweek, The New York Times, and The Wall Street Journal.
Role at the World Economic Forum’s (WEF)
Yaccarino is also a member of the World Economic Forum’s (WEF) Global Future Council on the Future of Media, Entertainment and Culture. She is also a member of the WEF’s Board of Trustees. Yaccarino is a strong advocate for the role of media in society, and she believes that the media can play a vital role in shaping the future of the world.
Linda Yaccarino’s accomplishments
- She is the first woman to lead NBCUniversal’s advertising sales business.
- She has been named one of the most powerful women in business by Fortune magazine.
- She is a member of the World Economic Forum’s Global Future Council on the Future of Media, Entertainment and Culture.
- Linda Yaccarino is a strong advocate for the role of media in society.
She is also a member of the Board of Trustees of the University of Pennsylvania. She is a role model for women in business and an inspiration to many.
A Seasoned Ads Executive
Linda Yaccarino brings a wealth of experience to her new position. With an impressive background in advertising, she served as the chairman of global advertising and partnerships at NBCU for over a decade.
During her tenure, she achieved outstanding success, generating over $100 billion in sales according to her profile on the company’s website. Yaccarino’s expertise in the advertising industry is poised to play a crucial role in shaping Twitter’s monetization strategies and driving revenue growth.
Presidential Appointment
Yaccarino’s accomplishments extend beyond the corporate realm. Former U.S. President Donald Trump appointed her to the Presidential Council on Sports, Fitness, and Nutrition. This recognition highlights her ability to navigate diverse domains and collaborate with influential figures at the highest levels of government.
Spearheading COVID-19 Vaccination Campaigns
In the midst of the global COVID-19 pandemic, Yaccarino demonstrated her commitment to public health initiatives. She worked closely with the White House and Pope Francis to develop and execute impactful vaccination campaigns. Her collaboration with such prominent entities underscores her ability to navigate complex partnerships and address critical societal challenges.
A Woman With Experience
While specific details about Linda Yaccarino’s age remain private, reports suggest that she is approximately 60 years old. This wealth of experience brings a seasoned perspective to her new role, encompassing decades of professional achievements, industry insights, and a proven track record of success.
Airtel Africa Plc released its full-year financial statement for the year ending March 31, 2024. The company posted a loss after tax of $89 million during the fiscal year, a significant decline from the $750 million profit after tax recorded in the previous fiscal year.
The company’s financial performance was mainly hit by the Naira’s instability over the fiscal year. As Airtel recorded FX losses of $770 million due to the devaluation of the Naira from N463/$ as of June 2023 to N1303/$ as of March 2024. The Naira devaluation also affected the company’s revenue baseline.
In reported currency, the USD, Airtel Africa posted a revenue of $4.98 billion in FY ‘23/24, representing a 5.3% decline from the $5.26 billion posted in FY ‘22/23. However, in constant currency, Airtel’s revenue grew by 20.9% over the course of the fiscal year.
However, Airtel Nigeria posted a revenue of $1.50 billion during the fiscal year, representing a 29.4% decline from the $2.13 billion revenue posted in FY ‘22/23. More so, in Naira terms, the group’s revenue appreciated by 25.8%.
Airtel Nigeria posted $711 million and $654 million in voice and data revenue respectively. Airtel customer base in Nigeria also increased to 50.9 million, representing a 5.3% growth from the 48.9 million customers posted in the previous fiscal year.
During the year, the group’s voice revenue constituted the bulk of its total revenue with $2.18 billion. Data revenue constituted $1.73 billion of its revenue.
In constant currency terms, Airtel Africa’s mobile services revenue experienced a significant increase of 19.4%. This growth was primarily driven by an 11.9% increase in voice revenue and a 29.2% growth in data revenues, as the group’s 4G customers increased by 42.3% during the fiscal year.
Airtel’s mobile money, SmartcashPSB recorded a 20.7% growth in customers as well as a 21.1% growth in revenue, hitting 38 million customers and $837 million.
Despite inflationary headwinds and currency devaluation across the group’s operational markets, Airtel Africa displayed resilience in its financial performance as it generated a net cash of $2.26 billion from its operations during the fiscal year.
Also, in terms of constant currency, Airtel maintained a double-digit growth across its revenue, pre-tax profit, EBITDA, and operating profit profiles.
Commenting on the results, Olusegun Ogunsanya, the group’s CEO, said: “This strong revenue performance is a reflection not only of the opportunity that is inherent across our markets, but also the resilience of our affordable offerings despite the inflationary pressure many of our customers have experienced.
“Furthermore, our rigorous approach to de-risking our balance sheet and our capital allocation priorities has materially reduced the risks that the currency devaluation has had on our business. Key initiatives include the reduction of US dollar debt across the business and the accumulation of cash at the [holding company] level to fully cover the outstanding debt due. We will continue to focus on reducing our exposure to currency volatility. At the beginning of March, we launched our first buyback programme reflecting the strength of our financial position.”
Airtel declared a 3.57 cents final dividend, a rise of 9.2% on-year from 3.27 cents. Its total dividend amounted to 5.95 cents, also up 9.2%, from 5.45 cents.
The CEO added: “The growth opportunity that exists across our markets remains compelling, and we are well positioned to deliver against this opportunity. We will continue to focus on margin improvement from the recent level as we progress through the year.”
Google has announced the opening of applications for the 2024 cohort of its Hustle Academy, a program dedicated to accelerating the growth of small and medium-sized businesses (SMBs) in Sub-Saharan Africa. This year, the program introduces a significant upgrade: business-focused AI training integrated directly into the curriculum.
SMBs are the backbone of Africa’s economy, yet many face challenges accessing funding and developing the essential skills needed to grow their businesses. According to the International Finance Corporation (IFC), 40% of formal SMBs in developing countries have an unmet funding need of $5.2 trillion annually.
The Hustle Academy aims to address this gap by providing comprehensive business education, mentorship, and networking opportunities. Since its launch in 2022, over 10,000 businesses have benefited from the program. Participants who received grants nearly doubled their success rate in accessing new funding sources beyond friends and family, increasing from 11% to 20%. The program has also spurred job creation, with an average of 4 new jobs for every 10 businesses that graduated.
Kristy Grant, Head of B2B Marketing, SSA commented, “Artificial intelligence (AI) holds immense potential for African small and medium-sized businesses (SMBs), enabling them to drive innovation, increase efficiency, and unlock new levels of economic growth. The Hustle Academy has supported over 10,000 businesses who have gone ahead to raise funding and create jobs since inception. By incorporating AI into our curriculum, we aim to further amplify this impact, equipping SMBs to harness AI technologies for improved business performance and economic progress.”
The new AI modules focus on data-driven decisions, optimising operations, and building AI-powered marketing strategies. Participants will explore practical applications through modules like “Boost Your Productivity with AI” and “Marketing Strategy and AI,” learning how to save time and supercharge digital outreach.
Applications for the 2024 Hustle Academy cohort are open to SMBs in Kenya, Nigeria, and South Africa, and the program will run through the end of the year. For more information and to apply, visit g.co/hustleacademy.
Most Reverend Lucius Ugorji, president of the Catholic Bishops’ Conference of Nigeria (CBCN), the Archbishop of Owerri has raised caution on the deployment of Artificial Intelligence.
Catholic Bishops’ Conference of Nigeria
Ugorji called for a balance that prioritises human welfare alongside technological progress, mindful of ethics and morals, as well as risks such as job displacement, threat to world peace, spread of falsehood through propaganda, manipulation of the human person, and privacy concerns through advanced hacking and deepfakes.
The clergyman raised the concern during the ComWeek Public Lecture in Abuja on Artificial Intelligence, noting that the exclusive use of technology in religious formation, pastoral care, and education has enhanced theological knowledge, accessibility and mission of the universal church.
Keynote Speaker at the event, Father Anthony Akinwale, deputy vice chancellor of Augustine University Lagos, dismissed the speculations that the intellectual roles of humans will be replaced by Artificial Intelligence, explaining that AI relied on humans to function and did not have a mind of its own to choose to or not to obey commands with which it was programmed.
Akinwale further cautioned that AI should be solely used for the common good of mankind and not for destructive purposes.
Most Reverend David Ajang, chairman on Social communication of the Catholic Bishops Conference, called for a reflection on the power of communication as a divine gift, “one that holds the potential to bridge divides, enlighten minds and unite hearts in the pursuit of truth and common good”.
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