Ad Execs Urge X CEO to Step Down to Save Herself (from Elon Musk)
Linda Yaccarino, the chief executive of X, is refusing to step down following concerns about owner Elon Musk and antisemitic content on the platform.
X is seeing another advertiser exodus with major brands such as IBM, Apple, Walt Disney, Comcast, and Warner Bros suspending their advertising due to worries about their marketing appearing alongside objectionable material.
Sources reveal that over the weekend, Yaccarino was privately contacted by what both Forbes and the Financial Times described as a “groundswell” of executives and friends from the advertising industry to urge her to resign to salvage her reputation.
Despite these pleas, Yaccarino has refused to leave her position, emphasizing her belief in X’s mission and its employees. Musk, who acquired X for $44 billion last year, faced criticism recently for endorsing an antisemitic conspiracy theory on the platform.
Reports from Media Matters for America last week found advertisements for top brands adjacent to posts promoting “pro-Nazi” and white nationalist content, prompting the advertisers’ decision to suspend their spending on X.
READ: IBM Halts X Advertising After Ads Appeared Alongside Pro-Hitler Content
Yaccarino, a longtime NBC advertising executive appointed by X in June to woo advertisers back to the platform, has been dealing with challenges arising from Musk’s relaxation of moderation policies and staff cuts. On Friday, she affirmed the platform’s commitment to combat antisemitism and discrimination.
Related: Single-Digit Revenue Growth to Bankers, X to Introduce Three Tiers of Premium Service
Musk, meanwhile, denied accusations of antisemitism, stating on X that media stories claiming otherwise are false.
He also threatened — in language that’s vaguely reminiscent of a certain litigious former president’s — to file a “thermonuclear lawsuit” against Media Matters for what he termed was a “fraudulent attack” on X.
Media Matters CEO Angelo Carusone, on the other hand, remains confident about their report, asserting that Media Matters would win if Musk does pursue legal action.
Also, the advertisers are already gone. So, yeah.
Information for this story was found via Forbes, the Financial Times, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
